Black Diamond Capital Management has held a final close of its latest fund – BDCM Opportunity Fund IV, LP (Fund IV) – at the hard cap of $1.5 billion.
As with prior funds, Fund IV will acquire middle-market US and European based companies, typically through a restructuring or reorganization process, across multiple industries.
“We are very pleased to have exceeded our expectations during this fundraise and are especially thankful to our current investors for their significant support,” said Steve Deckoff, founder and Managing Principal of Black Diamond. “We are also very appreciative of the trust and confidence a significant group of new investors, representing some of the largest pension plans, insurance companies and sovereign wealth funds investing in private equity today, has placed in our firm and strategy.”
Black Diamond engaged Credit Suisse as its exclusive placement agent for this fundraise. Schulte Roth & Zabel provided legal advice to Black Diamond.
Black Diamond invests in performing and distressed markets through the following three platforms: control distressed/private equity; hedge fund; and collateralized loan obligations. The firm was founded in 1995 and employs more than 80 people across multiple offices, including Greenwich, CT; Lake Forest, IL; and London, UK (www.bdcm.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-8-15
