Blackstone and TPG, two of the biggest sponsors of leveraged buy-outs, both have distressed-debt funds, and Blackstone has expanded its already big restructuring unit.

黑石公司和TPG公司都是最大的杠杆收购的出资方，都持有不景气的债务基金。 黑石公司扩展了已经很大的重组部门。

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The funds are believed to account for a slightly smaller proportion of activity in the distressed debt arena too.

据信，在不良债务领域，对冲基金所占份额略低于上述水平。

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They include a group of distressed-debt funds that gave it rescue financing over the summer, then committed $4.5 billion more as the firm continued to totter.

这些包括一些帮助公司度过今年夏季并在公司每况愈下的时候继续追加45亿美金的困难基金。

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Distressed debt funds are swarming around portfolios of assets that banks are selling to reduce their risk exposure.

FORBES: Lehman On The Bubble

But distressed debt funds are another story.

FORBES: Dunking Distressed Debt

In addition, plenty of distressed-debt funds specialise in taking positions when things look ugly.

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