Davidson Kempner Nets $200M For First P.E. Fund

Nov 4 2011 | 10:54am ET

Davidson Kempner Capital Management has raised almost $200 million for its first private equity fund, half the total it hopes to garner for its maiden effort.

The New York-based hedge fund told investors last month that it held a first close of its Long-Term Distressed Opportunities Fund in July with $193.5 million, Bloomberg News reports. Davidson Kempner aims to raise about $400 million for the fund, which has already made three investments, and expects to do so by the end of the year.

The $17 billion firm's first p.e. fund focuses on a variety of distressed investments, including deals backed by private lenders and the Federal Deposit Insurance Corp., commercial real-estate loans, hard assets, asset-backed securities, structured products and long-dated liquidations.

The new fund is led by Conor Bastable, Avram Friedman and Anthony Yoseloff.

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