Navigating the Complexities of Tail-End Funds
Tail-end funds can present a number of challenges for investors. Some of the problems associated with these types of funds...
Successor Asset Management
Cork Gully provides independent advisory and fiduciary services to funds facing distress, underperformance, or governance issues. We work alongside stakeholders to stabilise fund structures and, where appropriate, support or replace existing fund managers. Leveraging deep expertise in restructuring, special situations, and governance, we help preserve and enhance asset value, supporting the efficient return of capital across a wide range of fund strategies and structures in multiple jurisdictions.
Successor asset management
Leveraging extensive experience in restructuring and special situations, we deliver bespoke, cost-effective solutions that enhance and return value to investors including the replacement of general partners in distressed or underperforming funds as a result of:
- an adverse change in the operating capacity and/or the performance of the incumbent manager;
- limited economic incentive for the incumbent fund manager;
- material disagreement between managing members as to the strategy for the fund;
- lack of specialised knowledge in dealing with value protection;
- lack of specialised knowledge in dealing with value protection;
- incumbent fund manager becoming compromised.
Helping to manage a crisis event
We can support to the investors through a crisis event. Our team can help resolve liquidity issues for stakeholders, and are highly experienced in running and pursuing complex litigation.
Turnaround and restructuring of underperforming funds
We can help determine the strategic priorities to enhance asset value and offer support and practical solutions for achieving this objective. By combining, rigorous analysis and in-depth industry expertise, we use our extensive restructuring and special situations experience to agree and implement the required changes. Most importantly, we bring clarity and simplicity to the decision-making process.
Dealing with non-performing assets
Our team comprises highly experienced professionals who can also act as directors of portfolio companies to support and/or replace existing management when dealing with non-performing assets. As performance deteriorates, stakeholders often become increasingly concerned that the fund manager’s priorities will diverge from their own, and this can lead to both uncertainty and instability at a time when focused management of assets is needed to preserve value and prevent further loss. We can provide highly experienced directors to work with stakeholders in distressed or conflict situations to either support or replace existing portfolio management.
Independent and conflict-free
Unlike a fund manager, responsible for managing other funds we are entirely independent and free of conflict. We therefore act solely in the best interest of the investors. There is no risk of investments being transferred, combined with another fund or for our priorities to shift. We remain committed to achieving the strategy agreed with the investors, thereby avoiding a fire sale of the assets.
Member of the Alternative Investment Management Association (AIMA).
"We help preserve and enhance asset value, supporting the efficient return of capital across a wide range of fund strategies and structures in multiple jurisdictions"
Insights
Dealing with Misappropriation of Assets by Fund Managers
Misappropriation of assets by a fund manager occurs when they take or use the fund's assets for their own personal gain...
Replacing an Asset Manager
Rather than selling troubled positions at heavy discounts in the secondaries market, LPs should consider bringing in outside support to agitate for a successful wind...