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Hedge  · Jun 05, 2026

CONTRARIAN FUND I OFFSHORE LTD.

SEC Filing Record
Offering Amount
$475.1M
Strategy
Hedge
Exemption
06b
Date Filed
Jun 05, 2026
0000919574-26-003852
View on SEC EDGAR →
37A Read

The offshore structure paired with a $475M target and four named GPs indicates this is likely a primary fund rather than a continuation vehicle; the amendment filing suggests either a reset of terms mid-raise or a correction to GP/LP agreements after initial launch, which occurs when managers encounter resistance to initial terms or need to adjust fee/carry alignment.

With no prior EDGAR history for Contrarian Capital Management, this fund represents the manager's first SEC-registered raise, meaning LPs are evaluating a debut institutional vehicle rather than assessing an evolution within a known series—the four-GP structure suggests a partnership model rather than a single-founder shop, which typically correlates with higher operational infrastructure but also shared decision-making on exits and strategy shifts.

A June 2026 amendment filing in a macro environment of persistent rate uncertainty and post-2025 PE deployment cycles reflects the typical 12–18 month lag between fund initiation and material amendment; this timing places the fund in market conditions where LPs are rotating between dry powder constraints and redeployment windows.

Verify whether the amendment modified carry cliffs, LP consent thresholds for continuation funds, or GP co-investment commitments—these are the most common amendment triggers for offshore vehicles—and confirm whether Kenneth Ageloff, Cassandra Powell, or Leanne Golding have prior fund affiliations not yet surfaced on EDGAR through corporate records or cross-registration with other entities.

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Principals
General Partners & Executives
-- Contrarian Capital Management, L.L.C. Kenneth Ageloff Cassandra Powell Leanne Golding
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