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Kohlberg Capital establishes new distressed investment platform01/02/2008. Source: AltAssets. 
 Kohlberg Capital Corporation, a publicly-traded affiliate of mid-market buy-out firm Kohlberg & Co., in partnership with Steven Panagos and Jonathan Katz, has formed a new distressed investing platform, Panagos Katz Situational Investing. The new business will invest in the debt and equity of companies that are entering into or are in the process of restructuring due to financial or operational distress.
PKSI will also selectively originate new credit facilities with borrowers that are otherwise unable to access the traditional markets.
Panagos was most recently the national practice leader and a managing director of Kroll Zolfo Cooper's Corporate Advisory & Restructuring practice. Katz previously was the founding partner of Special Situations Investing, JPMorgan's distressed investing vehicle for North America.
Kohlberg Capital will own a minority interest in PKSI and will make investments in funds managed by PKSI. The PKSI management team is also expected to source distressed debt opportunities for direct investment by Kohlberg Capital, according to a statement.
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