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Alternative Market Briefing

Arena closes new fund at $519m

Wednesday, December 02, 2020

Laxman Pai, Opalesque Asia:

Asset manager Arena Investors LP has closed its special opportunities fund at $519 million, beating its $300 million target.

The vehicle, Arena Special Opportunities Partners Fund I, will target credit-oriented investments in industries dislocated by the COVID-19 pandemic, according to a statement from the institutional asset manager with $1.7 billion of committed assets under management.

The fund has a flexible, global mandate with a majority of investors based in North America and Australia, said the press release.

"With an investment strategy grounded in our 20 plus years of experience investing globally across divergent economic downturns, Arena is well-positioned to find value in all economic environments, especially today's," said Dan Zwirn, Arena Investors Chief Executive Officer and Chief Investment Officer.

"The COVID-19 pandemic has caused newfound disruption to both society and the global economy and moved trends we were already seeing forward by five to ten years, especially in the industries that have been most heavily impacted. While much has changed, our flexible approach has allowed us to adjust quickly and continually identify attractive opportunities to deliver value to our investors," Dan added.

"Arena's special-situations approach has enabled the firm to provide investors with access to a global diverse investment set across market cycles, inclusive of COVID-19 affected assets to enhance value ......................

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