Private Debt

Réal Desrochers, the former head of alternatives at CalSTRS examines the role of distressed debt and restructuring funds in an institutional portfolio.

The joint venture has admitted final defeat in trying to restructure the debt on the New York multifamily complex, saying they had no intention of putting Stuyvesant Town/Peter Cooper Village into bankruptcy.

After months of speculation, the two firms confirmed New York's Stuyvesant Town/Peter Cooper Village complex had missed a $16m debt service payment due today. Tishman hope to restructure the $5.4bn deal's debtload.