Venezuela Bondholders Launch New Distressed-Debt Fund
- Group will also invest in debt from Lebanon, Argentina
- Parties to reach out to Venezuelan authorities ‘immediately’
Photographer: Carlos Becerra/Bloomberg
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A group of Venezuela creditors is launching a new fund focused on distressed debt.
The Canaima Global Opportunities Fund, named after a Venezuelan national park, will focus on defaulted, U.S.-sanctioned notes from the South American country, said Celestino Amore, the managing director of IlliquidX, a London-based distressed-debt brokerage firm that will advise the fund.