Ascribe Capital Closes Fourth Fund

Ascribe Capital makes investments in securities of companies that are distressed or undergoing operational, financial, or other stress and securities trading at a discount to intrinsic value. Its long-term capital and flexible mandate enable Ascribe Capital to act as a partner to management teams and other investors seeking non-traditional capital solutions to complex strategic and operational objectives. Fund IV is expected to make investments across the capital structure, which may include, among others, secured and unsecured debt, including trade claims, bank debt, and bonds, and/or equity or equity-like securities. In addition, Fund IV may make direct loans, fund recapitalizations, provide debtor-in-possession loans and exit financings, and invest in equity or equity-like securities in order to fund both in-court and out-of-court restructuring plans.

In announcing the closing of Ascribe IV, Ascribe Capital's Chief Investment Officer, Lawrence A. First, said, "We are pleased to have raised a new pool of capital that will allow us to continue to apply our value-based investment approach in a disciplined manner to generate attractive risk-adjusted returns from debt instruments of middle market companies."