Argo Group
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- Experience, knowledge and network in markets to identify dislocations and stress points
- Breadth and quality of relationships (restructuring advisors, company managers, brokers, commercial banks, distressed sellers)
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- Focus on underlying business as well as financial structure
- Credit analysis, enterprise value analysis (cash flows, liquidation values, comparables)
- Study capital structure - indentures, debt covenants, credit agreements
- Determine how value will be distributed
- Research legal issues
- Exit scenarios
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- Knowledge of flows, who owns the paper in question and impact on pricing
- Translating the opportunity into the right instruments and trade construction
- Development of relative value, arbitrag'e and directional
positions based on research conclusions
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- Active monitoring and analysis of company developments (workout, company results, industry)
- Regular review of existing positions
- Disciplined exits
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