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SVP Global Closes Special Situations Fund III Above Target

December 11, 2014, 06:52 AM
Filed Under: Industry News

Strategic Value Partners, a leading global investment firm focused on distressed and deep value opportunities, today announced the successful final closing of Strategic Value Special Situations Fund III ("SVSS III" or the "Fund"). The Fund raised a total of $1.31 billion in aggregate commitments, which brings the total for the strategy to $1.56 billion including $250 million of reserved capacity for a "fund-of-one" limited partner relationship. This is well above the $1 billion original target and is a step up from Fund II which had $918 million in commitments.

SVSS III's focus will be the same as that of its predecessors, Special Situations Funds I and II, investing primarily in the distressed debt of middle-market companies and assets where SVP Global can exert meaningful influence in both financial restructurings and operational improvements. SVSS III is already 42% called, as it capitalizes on the increasing sales by European banks of distressed assets and loans on both sides of the Atlantic. While SVSS III has a global mandate, its investments are expected to be more focused on Europe than previous funds. SVP Global has invested more than $20 billion of capital since inception in 2001, including $9 billion in Europe, where it was among the earliest US firms in the distressed arena to establish a presence, opening in London in 2004 and Frankfurt in 2005.

The investor base for SVSS III is diverse and international, including prominent investors from the U.S., Europe, Australia, the Middle East and Japan. Investors representing nearly 90% of the capital in the predecessor fund, SVSS II, have re-upped into SVSS III.

Victor Khosla, Founder and Chief Investment Officer of SVP Global, said: "We are delighted to be announcing the successful close of SVSS III and are extremely grateful for the trust and support that we have received from investors, both existing and new. With more than 10 years of experience in Europe, we are well positioned to seize the opportunities being generated by increasing European bank disposals."

SVP Global was founded in 2001 by Victor Khosla. With approximately $5 billion in assets under management, SVP Global is a leading global investment firm with offices in Greenwich (CT), London, Frankfurt and Tokyo, focused on distressed and deep value investments. SVP Global seeks to create value in these investments through its substantial industry, restructuring and operating experience.

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