Hayfin gathers €2bn for special opportunities strategy

The capital will be used for situations arising from dislocation and where financing options may be scarce.

London-based fund manager Hayfin Capital Management has raised more than €2 billion for its Hayfin Special Opportunities Fund III and related separately managed accounts.

Hayfin has what it describes as a “broad and flexible investment mandate” for the fund, deploying capital into industries, markets and sub-strategies where financing is scarce. The vehicle will invest “what the firm believes is the right amount of capital to invest in corporate and asset-backed opportunities arising from post-pandemic dislocation and related balance sheet restructurings”.

The firm did not name individual investors but said capital came from public and private pension funds, sovereign wealth funds, insurance companies, endowments, consultants, financial institutions and family offices.

Since being formed in 2009, Hayfin has invested around €28 billion across more than 400 portfolio companies, including €9 billion in its special opportunities strategy. The firm invests in liquid credit and private equity as well as private debt. Earlier this month, the firm issued its ninth European collateralised loan obligation issuance in the past 18 months.

“We continue to see a range of compelling deployment opportunities for our special opportunities strategy, offering attractive risk-adjusted returns for our investors,” said Tim Flynn, chief executive officer and co-founder of Hayfin.