MBK Partners raises $1.8bn

The South Korea-based fund manager has raised capital for its second special situations vehicle.

Fund: MBK Partners Special Situations Fund II
Amount raised: $1.8 billion
Stage of fundraising: Final close
Predecessor fund: MBK Partners Special Situations Fund I ($840 million)

MBK Partners has held the final close on its second special situations vehicle, MBK Partners Special Situations Fund II, at $1.8 billion, the firm confirmed to Private Debt Investor. Capital raised will be used to acquire distressed debt of corporates across Asia-Pacific.

The vehicle received a $100 million commitment from Teachers’ Retirement System of the State of Illinois, in addition to commitments from other undisclosed institutional investors, pensions and sovereign wealth funds.