Kodiak Restructured Illiquid Debt and Securities Fund I
The Kodiak Restructured Illiquid Debt and Securities Fund I (“The Kodiak Fund I”) invests opportunistically in corporate and middle-market loans, bonds, and equity securities. The Kodiak Fund I employs a “desk-driven” origination strategy, in that a majority of positions within the Kodiak Fund I are traded loans and securities. The Kodiak Fund I can invest throughout the capital structure – anywhere from Senior Secured loans – all the way through equity securities and warrants – with all underwriting focused on identifying value along the following themes:
- Temporary Distress: Opportunities where loans and securities are, in our view, temporarily trading at a discount due to issuer performance, ratings actions, and other exogenous factors.
- Deeply Distressed: Situations involving bonds and loans that have not yet defaulted, but where a restructuring is imminent. These situations are often driven by single-name performance and industry-wide macro issues.
- Illiquid / Post-Restructuring: Defaulted bonds and loans where the ultimate outcome of the bankruptcy process is still not final. Additionally, The Kodiak Fund I will invest in reorganized equity securities that are thinly traded and have little to no current liquidity.
All of our strategies are implemented in a non-control format; however, The Kodiak Fund I has several partner investment firms with which we will invest alongside in a distress-for-control format, utilizing our origination and underwriting, complimented with our partner’s restructuring and workout expertise.
200 South Tryon Street, Suite 1700
Charlotte, NC 28202