Oaktree Capital Administration has raised round $3bn (£2.36bn) for its third particular conditions fund, which invests in struggling mid-market companies in North America.
The increase beats the asset supervisor’s $2.5bn goal.
Particular Conditions Fund III will make personal fairness and debt investments in corporations throughout a variety of industries, together with shopper merchandise, gaming, industrials, healthcare, media/leisure, enterprise and monetary companies, and meals and beverage.
Learn extra: Funding giants gasoline drastic enhance in direct lending
“We’re thrilled with the sturdy reception of our fundraising efforts and deeply recognize the belief that each our returning and new buyers have positioned in our group and funding philosophy,” mentioned Matthew Wilson, managing director and co-portfolio supervisor of the particular conditions group in a press release, cited by Buyouts Insider.
“This profitable shut is a testomony to our sturdy monitor document and underscores the demand for our risk-controlled method. With the flexibleness to make each credit score and fairness investments, we’re discovering no scarcity of alternatives wherein our distinctive structuring capabilities provides us an edge and in the end allow us to ship sturdy returns to our buyers.”
Oaktree’s particular conditions unit had $7.1bn of belongings below administration as of 30 September 2023.
Learn extra: Oaktree Specialty Lending sees rise in annual funding revenue regardless of flat This autumn