Avenue Capital Group has introduced the ultimate closing of its Avenue Europe Particular Conditions Fund V with roughly $1bn (£800m) raised.
The brand new fund will give attention to delivering senior secured, asset-backed loans to excluded debtors in Northern Europe.
Backing has come from a spread of current and new traders, together with public and company pension plans, sovereign wealth funds, asset managers, and household workplaces.
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“We’re gratified to have obtained such robust assist for the Avenue Europe Fund from our current and new funding companions,” stated Marc Lasry, chief government and co-founder of Avenue Capital Group.
Avenue Capital has invested greater than $26bn in European credit score and distinctive circumstances since its launch.
Its property below administration are presently near $4bn.
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The worldwide funding agency is primarily targeted on specialty lending, opportunistic credit score and different particular conditions investments in america, Europe and Asia.
In March, the agency employed former BlackRock government Stephanie Boenawan to discover personal credit score funding alternatives throughout Southeast Asia, because it seeks to broaden its choices.
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