Saturday, 28 March 2015
Last updated 10 hours ago
Feb 2 2012 | 8:20am ET
Merrill Lynch & Co. vet Victor Khosla’s Strategic Value Partners has closed its Strategic Value Special Situations Fund II at $918 million.
The fund had an original target of $600 million.
According to an SVP statement, the new fund will follow the same strategy as its predecessor, SVSS I, investing in “distressed and deep value corporate opportunities in the middle-market, and by exerting material influence, both during and after restructuring.” SVSS II expects to generate returns over two to three years.
The fund will invest globally but expects to focus outside the U.S., given the opportunities it sees in Europe.
SVP has offices in Greenwich, Conn.; London; Frankfurt; and Tokyo, employing more than 100 individuals, including an investment team of 40 professionals, half of whom are based in the European offices.
Said SVP founder and CIO Khosla in a statement: “I would like to thank our investors for their support of SVSS II. SVP has an exceptional pipeline of deals that we estimate has grown 2.5 times in the last 18 months. We are excited by the opportunities we see for SVSS II.”
Strategic Value Partners was founded in 2001 and has approximately $4 billion in assets under management.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…