Centerbridge Raises Over $1B for Distressed-Debt and Buyout Fund

Dec 1 2010 | 9:08am ET

Centerbridge Partners has raised $1.15 billion for its second private equity fund focused on buyouts and restructuring, according to regulatory filings.

The Centerbridge Capital Partners II fund has a target of $3.75 billion, according to an overview of key fund terms sent to prospective investors. That would exceed the $3.2 billion raised by its predecessor fund in 2006. The new fund carries a minimum contribution of $10 million. 

New York-based Centerbridge Partners was co-founded by Mark Gallogly (formerly of Blackstone Group) and Jeff Aronson (formerly of Angelo Gordon & Co). It focuses on both regular buyout deals and distressed deals and its typical investment is in the $50 million to $300 million range.

 


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