TRG sets up asset management business

TRG, the US distressed situations specialist, has formed an asset management practice dedicated to managing distressed and sub-performance private equity investments.

This new practice has been appointed as investment advisor and fund manager of Raiffeisen CEE Private Equity Fund, LP, part of the private equity arm of Raiffeisen Zentralbank, Austria’s largest co-operative bank with operations throughout Central and Eastern Europe. The fund’s assets are located in five countries across Central and Eastern Europe in the food, beverage, entertainment and information technology sectors.

“TRG has a proven track record of successfully monetizing distressed, underperforming and end-of-life funds portfolios and asset pools,” said Stephen Gray, managing principal, TRG. “The asset management practice formally brings together our expertise at restructuring assets and streamlining expenses with our knowledge of the markets in which the assets are located and a focus on quickly developing and implementing exit strategies designed to maximize value and return capital to shareholders.”