Strategic Value Partners Closes Fund III Above Target
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Strategic Value Partners Closes Fund III Above Target

svp global nf1Distressed and deep value investor Strategic Value Partners (SVP) has held a final close of Strategic Value Special Situations Fund III (SVSS III), raising a total of $1.31 billion in commitments.

The final closing 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 higher than SVP Global’s Fund II, which had $918 million in commitments.

The investor base for SVSS III is diverse and international, including investors from the US, 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.

Fund II’s investment criteria and strategy will be the same as that of its predecessors, Special Situations Funds I and II, and will invest in the distressed debt of middle-market companies and assets where SVP can exert influence in both financial restructurings and operational improvements.

SVSS III is already 42% called. The fund has capitalized 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.

Victor Khosla nf1“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,” said Victor Khosla, Founder and Chief Investment Officer of SVP Global.  “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 is focused on distressed and deep value investments and creates value in these investments through its substantial industry, restructuring and operating experience. The firm employs more than 100 individuals, including an investment team of 34 professionals, over half of whom are based in Europe. SVP Global was founded in 2001 by Victor Khosla and has offices in Greenwich (CT), London, Frankfurt and Tokyo (www.svpglobal.com). 

2014 PEPD • Private Equity’s Leading News Magazine • 12-11-14

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