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Laxman Pai, Opalesque Asia: Anchorage Capital Advisors, an American investment management firm based in New York City, has closed its ninth credit opportunities fund, which invests in stressed and distressed credit, special situations, and structured credit, with $1.5 billion in commitments, surpassing its $1.25 billion target.
Anchorage Credit Opportunities Fund IX (ACO IX) drew support from both new and returning investors, with limited partners from previous funds providing more than 70% of the capital, said a press release from the firm known as one of the world's most prominent vulture funds, which are funds that invest in distressed securities.
Led by Co-Portfolio Managers Thibault Gournay and James Frost, ACO IX seeks to leverage its deep industry expertise and structuring capabilities to identify idiosyncratic and complex opportunities arising from market or industry dislocation, motivated sellers, or time-sensitive capital needs, said the release.
The $26.1 billion investment firm, which focuses on global credit markets, stated that the Fund invests in stressed and distressed credit, special situations, structured credit, and other assets across U.S. and European markets, with a primary focus on investments in issuers with smaller capital structures and some degree of complexity.
Thibault Gournay, Anchorage's co-Chief Investment Officer and co-Managing Partner, said, "We are excited about the momentum ACO IX has generated early on in its investme...................... To view our full article Click here
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