Davidson Kempner closes on $1.1bn credit fund, beating target

Asset-backed strategy seeks to provide exposure to residential, corporate and hard asset-backed loans

New York-based Davidson Kempner Capital Management announced that it has raised more than $1.1 billion in capital commitments for its Davidson Kempner Income Fund II, an asset-backed private credit strategy.

According to the firm, the fund seeks to provide investors with exposure to a global income-producing credit portfolio consisting of structured residential, corporate, speciality finance and hard asset-backed loans.