Successor Asset Management
Cork Gully Asset Managers provide strategic support for investors who are navigating a crisis whether it be chronic under-performance, litigation, or fraud. We can support or replace existing fund managers to stabilise and manage the capital risk. We are authorised and regulated to manage investment funds pursuing a wide range of investment strategies and structures (including hedge funds, private equity and venture capital firms) and thereby generate enhanced asset value and an efficient return of capital to investors
Successor asset management
We are authorised to advise and manage investment funds, as both sub-advisors or successor managers, and leverage our extensive experience to formulate and implement bespoke cost-effective commercial solutions that enhance and return value to investors (including replacing general partners). These may be issues at the fund manager level or the fund or asset, including:
- 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 or monetisation of illiquid assets or assets in a distressed environment; and
- potential “bad behaviour” at a fund or asset level which leaves the incumbent fund manager compromised.
Helping to manage a crisis event
We can manage funds and provide support through a crisis event (including fraud), are able to 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 optimum 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 chief restructuring officers 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).