Glendon Capital Management Hits $2.5B Hard Cap With Second Credit Fund

Nov 2 2017 | 5:54pm ET

Glendon Capital Management has raised $2.5 billion in capital commitments for its second credit opportunities and special situations fund, hitting the new vehicle’s hard cap. 

The new fund, named Glendon Opportunities Fund II, was supported by large domestic and international institutional investors including public and private pension funds, financial institutions, foundations and endowments. It has a closed-end, delayed draw structure that features a three-year activation period, enabling the firm to be patient and deploy capital at optimal points in the next credit cycle, according to a statement.

Park Hill Group acted as placement agent on the raise, and Debevoise & Plimpton LLP served as its legal advisor. The company’s previous fund, Glendon Opportunities Fund, raised $1.1 billion in 2014. 

Launched in 2013 and headquartered in Los Angeles, CA, Glendon Capital Management is an independent, private investment firm focused on dislocated or distressed opportunities and special situations worldwide. 

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