Busted Distressed Funds

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Busted Distressed Funds. A news source called Private Equity International reports that London-based Intermediate Capital Group has purchased the skeletal remains of Third Avenue Management's Focused Credit Fund for approximately $170mm. This means that ICG is now the proud owner of Corporate Risk Holdings (aka Altegrity Inc.) and Affinion Group, among other debt and equity grenades...cough...investments.