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Laxman Pai, Opalesque Asia: Credit investment major Silver Point Capital Silver Point Capital closed a $4.6 billion opportunistic credit fund, exceeding its target of $4 billion.
According to a media release from the Greenwich, Connecticut-based hedge fund that focuses on credit and special situations investments, the fund, more than double the size of a predecessor vehicle, is focused on investing in global market dislocations including traded credit and restructuring, the statement said.
"With a longer-locked, drawdown structure, the Fund will invest in cyclically-driven market dislocations, including traded credit and restructuring and process-oriented investments. It has a global and opportunistic mandate extending across geographies, market capitalizations, capital structures, and industries," the release said.
The Fund benefits from Silver Point's successful, 22-year track record of investing across multiple credit cycles, as well as the firm's deep, integrated team of more than 320 investment and infrastructure employees, it added.
Today, Silver Point manages more than $6 billion across its opportunistic credit funds and approximately $16 billion in special situations overall. With the close of the Fund, Silver Point manages approximately $31 billion of investable assets in total across multiple integrated strategies, including direct lending and structured credit.
Ed Mule, Silver Point Capital's Founding Partner, Chief Executi...................... To view our full article Click here
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