Scoop: Canyon Sees Profits Ahead As Distressed Companies Clean Up Balance Sheets

The market sell-off in March allowed Canyon Capital Partners’ Distressed Opportunity Fund III (CDOF III) to deploy virtually all of its commitments, according to a June investor update, a copy of which ValueWalk has been able to review. According to the update, coming into March, the newly formed fund had deployed just $135 million of its $541 million in commitments. However, by mid-June, this had increased to $445 million, and commitments had increased to $840 million. For more up-to-date hedge fund content, and exclusive access to value-focused hedge fund managers, check out Hidden Value Stocks. The letter went on to explain…