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Laxman Pai, Opalesque Asia:

Global institutional asset manager Arena Investors closed around $1.1 billion in commitments for a special opportunities fund as the firm seeks varied investments during geopolitical uncertainty.

Arena Special Opportunities Partners Fund III follows the close of its prior multi-strategy vintage, Arena Special Opportunities Partners Fund II, in August 2022 with $930m, according to the global multi-strategy investment firm with approximately $4.1 billion of assets under management.

The US-based investment manager said in a media release that the fundraise, which includes co-investments and programmatic capital, was supported by a diverse group of institutional investors, including insurance companies, retirement funds, and multi-family offices.

"The Firm's multi-strategy asset and credit strategy will continue to focus on flexible financing solutions in situations where borrowers are unable to access traditional sources of capital or in situations where capital is scarce," it said.

"Arena is playing offense as high interest rates, geopolitical uncertainty, and inflation continue to disrupt the global economy. The risks of overcommitting to conventional private credit strategies are now becoming apparent. Our agility and ability to rapidly identify, structure, and execute complex transactions without a need to be in one particular private credit sub-asset class will enable us to capitalize on this disruption on behalf of our invest......................

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