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February 06, 2016 2:23 AM ET

Capital Markets

Company Overview of Monarch Alternative Capital LP

Company Overview

Monarch Alternative Capital LP is a privately owned hedge fund sponsor. The firm invests in the public equity and fixed income markets across the globe. It primarily invests in debt of bankrupt and distresses companies. The firm also invests in equities received in connection with the conversion of such debt into equity. It employs a fundamental analysis to make its investments. The firm conducts in-house research to make its investments. It was formerly known as Quadrangle Debt Recovery Advisors. Monarch Alternative Capital is based in New York, New York.

535 Madison Avenue

26th Floor

New York, NY 10022

United States





Key Executives for Monarch Alternative Capital LP

Managing Principal and Co-Portfolio Manager
Managing Principal, Head Trader, and Co-Portfolio Manager
Managing Principal and Co-Portfolio Manager
Chief Financial Officer
Managing Principal and Senior Research Analyst
Compensation as of Fiscal Year 2015.

Monarch Alternative Capital LP Key Developments

Lone Star, Apollo Reportedly Seen Bidding For BTG Pactual Unit

Investors reportedly seeks stake in Recovery do Brasil Consultoria S.A. from BTG Pactual Group (BOVESPA:BBTG11). BTG Pactual Group has asked interested parties in its stake in Recovery do Brasil Consultoria to deliver their proposals by December 23, 2015, five people with direct knowledge of the situation said. According to one source, as many as 23 firms expressed interest in Recovery do Brasil Consultoria, although no more than half a dozen are expected to submit non-binding offers. Lone Star Funds, Apollo Global Management, LLC (NYSE:APO), Elliot Management Corp, Oaktree Capital Group, LLC (NYSE:OAK) and KKR & Co. L.P. (NYSE:KKR) are among firms specializing in distressed debt investments that may bid for the 82% stake that BTG Pactual owns in Recovery, said the sources, who requested anonymity because negotiations are under way. BTG Pactual is seeking about BRL 1.7 billion ($439 million) from the sale, should it include the bank's platform that Recovery uses to price loans, two of the sources said. Without that, the sale could earn BRL 800 million for BTG Pactual, the same sources added. Centerbridge Partners, L.P. and Monarch Alternative Capital LP are also eyeing the asset and may submit a proposal, the second source noted. The results of the first round will define how fast the divestment will occur, the sources said. An unidentified Sao Paulo-based distressed debt company, which is teaming up with undisclosed partners to explore the purchase of Recovery's bad debt portfolio or collection platform, has also entered talks and is considering bidding, said the first source. BTG Pactual declined to comment. Interested parties have done some due diligence work on Recovery's portfolio and platform, the sources said. Apollo, Elliot, Oaktree, Centerbridge and Monarch did not have an immediate comment. A representative for Lone Star declined to comment. Credit Suisse Group AG (SWX:CSGN) is in talks to buy part of BTG Pactual Group's BRL 22 billion credit portfolio, a person with direct knowledge of the matter said. No agreement has been made and a deal might not be reached, the person said, asking not to be identified discussing private negotiations. Officials at BTG and Credit Suisse declined to comment on the talks. BTG is shopping its loans to large corporations after the November 25, 2015, arrest of its founder, Andre Esteves, forced BTG Pactual into a life-or-death struggle to sell assets and raise cash. BTG’s total loan portfolio was BRL 43 billion at the end of the third quarter, though half are guarantees that can’t be sold, another person said.

Blackstone Reportedly Acquires Life Settlement Portfolio From Monarch Alternative Capital

The Blackstone Group L.P. (NYSE:BX) has reportedly spent about $100 million to buy another life settlement portfolio with about 100 policies representing about $800 million in face value from Monarch Alternative Capital LP. That portfolio held a mix of policies previously owned by Caldwell Life Strategies Corp. and non-Caldwell assets.

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