Canyon Distressed Opportunity Fund likes the backdrop for credit

The Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now.

Q4 2020 hedge fund letters, conferences and more

Positive backdrop for credit funds

In their fourth-quarter letter to investors, which was reviewed by ValueWalk, Josh Friedman and Mitch Julis noted that the market is "currently experiencing the combined effects of incredibly robust central bank support together with the likelihood of continued large and forceful fiscal stimulus." They added that the fiscal and monetary support alleviated most of the worst stress in the corporate credit...