"Rescue Capital" investing as LP?

[Theo Hicks]

What are some tips for analyzing "rescue capital" investments as an LP? Assuming you did not invest originally.

To clarify, I am coming across some opportunities where a sponsor is in the middle of the biz plan, their loan is reaching maturity, they need extra capital, and they are attempting to raise the extra capital from other LPs rather than or in addition to a capital call.

They are offering "rescue capital" investors pref equity that is ahead of original common equity investors.