Avenue Scores $2.1 Billion For Distressed Debt Fund

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. 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.


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