Tennenbaum Closes Credit Fund With $530M

Aug 31 2011 | 1:18pm ET

Hedge fund Tennenbaum Capital Partners has held a final close of its sixth fund with $530 million in commitments.

The multi-strategy credit opportunities specialist said the new Tennenbaum Opportunities Fund VI will focus on discount and debt-for-control-oriented opportunities. In addition, the fund will seek out more complex, directly-originated financings.

Among the investors in the new vehicle are pension funds, insurance companies, foundations and endowments, family offices and high-net worth investors. Greenhill & Co. acted as placement agent for the fund.

"The successful fundraising stems from our consistent performance and from investors' confidence in our ability to execute on quality investments," Mark Holdsworth, co-founder of the Los Angeles-based firm, said. "We look forward to great opportunities over the coming months."

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