Saturday, 28 November 2015
Last updated 21 hours ago
Jan 12 2012 | 5:15am ET
Hedge fund Avenue Capital Group's second European distressed debt private equity fund is well on its way to its $2.5 billion capacity.
The firm has raised $2.1 billion for its Europe Special Situations Fund II as of its fourth closing, on Dec. 22, Bloomberg News reports. Avenue said the fund will seek to profit from opportunities stemming from Europe's sovereign debt crisis and from the continent's banks' need to shed some of their huge debt holdings.
The new fund will focus on northern European senior secured debt, equities or other distressed assets, and will be managed by Avenue's London team. It has a five-year term that could be extended to seven, marketing materials show.
Interested parties will have to pony up at least €10 million to invest in the fund.
Avenue's first European distressed p.e. fund launched four years ago with €1 billion and has enjoyed an 18.3% internal rate of return.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…