European distressed debt investors could benefit from double-dip

Alcentra head of special situations says second wave of global recession is likely, and predicts distressed debt opportunities in Europe.

Distressed debt investors should head for Europe if a double-dip recession materialises, according to the head of special situations at Alcentra, BNY Mellon Asset Management’s specialist high yield unit.

“It is highly likely we are heading back into a recession,” says Damien Miller, who fears a second downturn could be as early as two months away, striking in either Q4 this year or Q1 2011.

However, Miller says that for distressed investors, “opportunities are only going to get bigger,” with the