SSG closes two funds

The Asian credit and special situations fund manager closes latest two funds above target.

SSG Capital Management has raised around $1.7 billion for its fourth special situations fund – SSG Capital Partner IV – surpassing its original target of $1.25 billion. The manager has also held a final close for its second secured lending fund – SSG Secured Lending Opportunities II (SLO II) – at its $800 million hard-cap, surpassing its original target of $750 million.

The University of Michigan and the San Francisco Employees' Retirement System are among the investors in both vehicles.

SSG Capital Partner III previously closed at $915 million in May 2014. SSG Secured Lending Opportunities I closed at $325 million in September 2015.