“Just because you’re not seeing bankruptcy filings doesn’t mean there isn’t distress,” says Mark Kronfeld, a managing director with BlackRock.
Debt-burdened Hospitality Investors Trust Inc., which owns about 100 hotels, is in talks for a takeover by Brookfield Asset Management.
Distressed debt specialists—who at one point last year had $131 billion to spend—are rummaging for increasingly elusive bargains.
The Consumer Financial Protection Bureau estimates 1.7 million consumers will exit U.S. forbearance relief programs in September.