UK - Kelso to launch new turnaround opportunites fund
London-based Kelso Place Asset Management has announced the launch of The UK Special Situations Fund IV, a new fund for turnaround opportunities in the UK targeting £75m.
Like its predecessors, the new vehicle will focus on turnaround and special situations opportunities, including financial restructuring, operational turnarounds, corporate orphans and purchasing businesses from distressed vendors.
Kelso intends to acquire controlling stakes in sound UK mid-market businesses with annual revenues of between £10m and £100m. The fund, which will not be sector specific, will typically invest between £1m and £15m.
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