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Laxman Pai, Opalesque Asia: New York-based credit investor Diameter Capital Partners has reached a $2.2bn hard cap final close for its second Dislocation Fund.
Diameter Dislocation Fund II (DDF II) received significant support from current Diameter clients and new institutional relationships, with approximately 50% of commitments coming from first-time Diameter investors, said a media release from the alternative asset manager focused on the global credit markets.
"The closed-end drawdown fund will invest globally across sectors and focus on dislocated performing credit, stressed and distressed investments emerging from either micro-cyclical dislocations or broader macro challenges," it said.
According to the release, the strategy leverages Diameter's dynamic approach with top-down portfolio management and bottom-up position construction. Consistent with Diameter's investment process, DDF II will benefit from Diameter's combination of research and trading to capitalize quickly on dislocation opportunities. To date, Diameter has called 35% of DDF II's committed capital.
"We are grateful for the strong support DDF II has garnered from current Diameter clients during a time of heightened market volatility and are particularly pleased to welcome a significant number of new investors to our limited partner base," said Scott Goodwin and Jonathan Lewinsohn, Co-Founders and Managing Partners of Diameter Capital Partners.
"The closing of the fund at the hard cap ref...................... To view our full article Click here
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