Groundlearn / Glossary / Special situations
Special situations
A CFA term, defined in plain English with the distinction examiners test.
What it means
Investing around a specific corporate event — restructuring, distress, spin-off or litigation — where the outcome depends more on the event than on the market.
Where it appears in the syllabus
- Private Markets pathwayCFA Level III · exam weight 30–35% · GP/LP economics, private equity and debt, special situations, real assets.
Related terms
- Distribution waterfallThe agreed order in which a private fund’s proceeds are shared between limited and general partners.
- General partnerThe manager of a private fund, responsible for investment decisions and bearing unlimited liability for the partnership.
- Private creditLending to companies outside the public bond and syndicated loan markets, usually at floating rates with bespoke…
- Vintage yearThe year a private fund makes its first investment, and the basis on which its performance is compared with peers.
Educational content only. This is not financial, investment, legal or regulatory advice. Check the official curriculum for your own exam before relying on any definition here.
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