Friday, 9 October 2015
Last updated 11 hours ago
Mar 23 2010 | 12:24pm ET
Tennenbaum Capital Partners hopes to raise $1 billion for a distressed debt hedge fund.
The Santa Monica, Calif.-based firm aims to complete the first round of fundraising for the new vehicle within three months, Bloomberg News reports.
Tennenbaum raised $454 million in December for a debtor-in-possession financing fund, which targets loans of about $10 million.
Tennenbaum’s Opportunities V fund was the fifth-best performer among all hedge funds through the first three quarters of last year, according to Bloomberg Markets.
"We have the ability to make investments up to $250 million in private and public companies through open-market purchases and privately negotiated transactions," states the firm's Web site.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…