Our U.S. Special Situations Strategy has a 10-year track record providing flexible financing across capital solutions, opportunistic investments, and select uncorrelated assets in North America. The strategy is designed for investors seeking return profiles that can be less correlated with traditional markets, with an emphasis on equity-like upside potential supported by structured downside protection intended to help manage risk through a range of market environments.

The strategy is underpinned by a robust investment platform, leveraging a global research team and senior originators across BSP’s broader franchises, including CLO, direct lending, and real estate strategies. This integrated sourcing and underwriting capability is designed to identify bespoke opportunities and create portfolio diversification through differentiated access, deep credit work, and disciplined structuring.

BSP’s European Special Situations strategy targets stressed and distressed credit and capital solutions across Northern and Western Europe. The strategy is designed to address investors’ need for differentiated, risk-managed exposure to European situations where structural inefficiencies, fragmented markets, and legal complexity can create opportunities to purchase senior secured debt at discounts and capture equity-like upside with controlled downside.

The platform combines a broad research footprint with local execution, drawing on extensive proprietary information, regional networks, and in-house legal expertise to originate, underwrite, and manage complex situations. Investments are focused on senior secured positions, often at low loan-to-value ratios, with the aim of protecting capital while benefiting from restructurings, rescue financings, and post-reorganization equity participation. The team’s track record in navigating successful driving restructuring processes and deep familiarity with European legal regimes are key components of the strategy. For investors, this approach offers access to a specialized segment of the European credit market with potential for equity-like returns, supported by robust structural protections and active value realization.