Avenue Capital raises $119.5m

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Avenue Capital has raised $119.5 million for its Avenue Asia Special Situations Fund V, according to a SEC filing. The New York-headquartered firm began fundraising in 2016 with a $500 million target.

Its previous fund raised $2.71 billion in 2006.

The fund will target subordinated/mezzanine debt opportunities in a diverse number of sectors in the Asia-Pacific.