Masters in Business

Building a Global Private Credit Firm and 'Trading' Planes with Victor Khosla

52 snips
Sep 19, 2024
Victor Khosla, Founder and CIO of Strategic Value Partners, shares his extensive expertise in distressed debt and investment strategies. He discusses the evolution of high-yield markets and explains how technology can facilitate sustainability. Victor delves into the challenges of commercial real estate and the dynamics of distressed investing, emphasizing transformation over cost-cutting. He also highlights the importance of mentorship in finance and the intersection with his passion for tennis, offering insights for aspiring professionals.
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ANECDOTE

Origins of Distressed Debt

  • Bloomingdale's and SCI TV bankruptcies triggered the need for banks to sell off bad debt.
  • This created an opportunity for a new market in distressed debt trading.
INSIGHT

Early Distressed Debt Market

  • The distressed debt market was undeveloped, requiring analysis and pricing of unknown assets.
  • Bankruptcy processes were also not well-established, adding complexity to valuation and restructuring.
ANECDOTE

Citibank's Distressed Debt Venture

  • Victor Khosla wrote a business plan for Citibank to enter the distressed debt market.
  • The plan was initially small but quickly took off with the surge in bankruptcies and debt sales.
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