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This latest episode of Spotlight looks at distressed opportunities – or, rather, the lack thereof – that have cropped up in the wake of covid-19. While plenty of opportunistic capital has been raised in recent years, much of it during the height of the pandemic, the window for deploying those funds proved surprisingly narrow. Buoyed by government support schemes, many businesses that might have otherwise been acquisition targets have instead been kept afloat. Andy Thomson and Kyle Campbell ask what this means for the future of distressed debt investment for both real estate and private equity in a discussion moderated by Chase Collum.