Credit/Special Situations
OCP Special Situations Fund holds first close at £6m
Oakfield Capital Partners (OCP) has held a first close at ТЃ6m for its vehicle Oakfield UK Special Situations Fund, targeting ТЃ20m.
Cerberus closes fifth fund on $2.61bn
Cerberus Capital Management has raised $2.61bn for CIP V, a fund focused on turnarounds and distressed situations, according to reports.
Mittel and Roland Berger launch Italian turnaround initiative
Italian investor Mittel Management has announced the launch of a vehicle seeking turnaround opportunities in Italy, in partnership with Roland Berger Strategy Consultants.
TowerBrook closes fourth fund on $3.5bn
TowerBrook Capital Partners has held a final close for its fourth buyout fund, reaching its $3.5bn hard-cap.
PHD Equity completes MBO
PHD Equity Partners, the private equity arm of Dow Schofield Watts, has backed the management buyout of lending company Davenham Group.
EQT Credit II hits €376m
Swedish private equity house EQT has raised тЌ376m for its second credit opportunities fund, according to reports.
Blackstone raises $834.8m for new listed debt fund
The Blackstone Group has raised $834.8m in the IPO of its new closed-ended debt vehicle GSO Strategic Credit Fund.
Hamdani and Priston join Bayside
HIG Capital’s distressed debt and special situations affiliate, Bayside Capital, has hired Ahmed Hamdani and Duncan Priston for its London team.
Partners Group closes debt fund on €375m
Partners Group Private Markets Credit Strategies 2012 has held a final close on €375m.
Patron hits €880m for fourth fund
Patron Capital Partners has reached a final close on its fourth fund at тЌ880m.
SSVP III closes on €231m
Orlando Management AG has announced the final close of its latest fund, Special Situation Venture Partners III, on €231m, €31m over target.
Former Austrian chancellor launches private equity firm
Former Austrian federal chancellor Alfred Gusenbauer, entrepreneur and adviser Andreas Frech, M&A Corporate finance specialist Alon Shklarek and lawyer Leopold Specht have launched Cudos Group.
Capital Management Partners closes fund on €175m
German mid-cap investor Capital Management Partners has closed its CMP German Opportunity Fund II on €175m.
KKR appoints European head of special situations
KKR has appointed Mubashir Mukadam as its European head of special situations.
Spain welcomes Extremadura Avante
The founders of private equity firm Extremadura Avante have applied to Spain’s Comisión Nacional del Mercado de Valores to approve its creation.
Perceva Capital raises €150m
French special situations investor Perceva Capital has raised €150m for its latest fund.
Sherpa Capital launches €30m distressed fund
Sherpa Capital has launched a €30m fund specifically designed to support companies undergoing distressed situations.
Morgan Stanley's secondaries fund exceeds $500m target
Morgan Stanley's Global Secondary Opportunities Fund, has raised $585m, exceeding its $500m initial target.
Recovery fund: releasing the shackles of debt
ICGтs new recovery fund specifically supports companies chained down by over-leverage, rather than loss-making businesses that require a complete turnaround. Francinia Protti-Alvarez investigates
ADM holds first close of CEE Recovery Fund on €100m
ADM Capital has held a first close of CEECAT Recovery Fund on €100m. The fund will invest in Central and Eastern Europe, Central Asia and Turkey.
Neuberger Berman to launch distressed debt fund
Private Equity investor Neuberger Berman, plans to launch NB Distressed Debt Investment, a fund targeting asset-backed senior debt.
ICG closes recovery fund on €843m
London-based alternative asset investor Intermediate Capital Group (ICG), has reached the final closing of its тЌ843m ICG Recovery Fund.
UK/US - Marathon holds $400m first close on US toxic asset fund
London-based Marathon Asset Management has held a $400m first close of its public-private toxic asset fund, an initiative engineered by the US government to buy up troubled assets from banks that has so far seen $5bn raised by eight seperate fund managers....
US/EUROPE - Oak Hill closes distressed debt fund on $1.13bn
Oak Hill Advisors has surpassed the firm's $750m target for its OHA Strategic Credit Fund, holding a final close on $1.125bn.