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Laxman Pai, Opalesque Asia: Strategic Value Partners (SVPGlobal), a US-headquartered investment group focused on the debt of distressed companies, has closed its latest fund Strategic Value Special Situations Fund V (SVSS V) on its hard cap at $5bn.
The fund focuses on distressed debt, event-driven investments, special situations, and private equity investments said a press release from the global investment firm with more than $17.5 billion in assets under management.
It is 75% larger than its predecessor, Strategic Value Special Situations Fund IV, which closed in April 2018 at its $2.85 billion hard cap. The firm also closed Strategic Value Dislocation Fund, an event-driven and special situations credit fund, at $1.7 billion in October.
SVSS V completed fundraising only three months following its first close and closed above the fund's $4bn target, supported by both existing and new investors, it said.
The fund also exceeded the size of its predecessor, SVSS IV, and associated vehicles, which closed in April 2018 at the hard cap of $2.85bn.
The latest vehicle will focus on restructurings, event-driven investments, special situations, and trading-oriented opportunities in North America and Europe. It has already made investments in the basic industrial, aviation, and real estate sectors.
Investors in Strategic Value Special Situations Fund V include New Jersey Division of Investment, which invests on behalf of New Jersey Pension Fund, Trenton; Ohio Scho...................... To view our full article Click here
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