Avenue Capital Group raises $132m

The New York-based investment firm has held an interim close for its latest special situations vehicle.

Avenue Capital Group held a second close at $131.5 million for its Avenue Asia Special Situations Fund V. The firm started fundraising for the fund in April 2016.

The SEC filing shows that at least 10 investors have invested into the fund, including College of William and Mary, and Ewing Marion Kauffman Foundation.

The firm will use the capital to invest in distressed debt opportunities in Asia-Pacific.