|
Laxman Pai, Opalesque Asia: Private equity firm Certares Management and hedge fund manager Knighthead Capital Management raised $1.5 billion for their fund focused on distressed travel and tourism investments, closing the vehicle to new money after exceeding an initial $1 billion goal.
The duo will deploy the capital into a seemingly tough environment for distressed investing, said a press release.
The CK Opportunities Fund received strong support from a diversified global investor base, including leading sovereign wealth funds, family offices, pensions, endowments and foundations, and financial institutions.
The Fund is the first co-managed fund for Certares and Knighthead, and it represents a powerful partnership between the two firms to capitalize on opportunities that have emerged due to the COVID-19 pandemic.
With the CK Opportunities Fund, Certares and Knighthead aim to be a preferred capital solutions provider for travel, tourism, and hospitality companies facing acute liquidity and financing needs.
Since its inception in October 2020, the Fund has allocated approximately $650 million of capital across four investments: Azul Brazilian Airlines, LATAM Airlines Group, Mystic Invest Holdings, and Hertz Global Holdings, Inc.
The Fund's Investment Committee consists of Greg O'Hara, Colin Farmer and Jeff Nedelman from Certares and Tom Wagner, Ara Cohen and Andrew Shannahan from Knighthead.
Greg O'Hara, Founder & Senior Managing Director ...................... To view our full article Click here
|
RSS
