SSG targets $2bn for two funds – exclusive

The alternatives manager has returned to market by launching its latest special situations fund and secured lending fund simultaneously. 

SSG Capital Management, the Asian credit and special situations fund manager, is looking to raise $2 billion for its latest two credit funds.

According to market sources, the manager has just launched its fourth special situations fund – SSG Capital Partner IV. The firm is aiming to corral $1.25 billion for the fund, the largest ever target for an Asia-focused special situations fund, according to PDI.

The firm’s predecessor fund, SSG Capital Partner III, closed on $915 million in 2014. The firm has traditionally looked at debt and equity investments in the Asia Pacific region, with a focus on companies with enterprise values between $100 million and $1.5 billion, for its special situations fund series.

SSG has also launched its second secured lending fund – SSG Secured Lending Opportunities II – with a target of $750 million.

The firm is targeting more than double the $350 million it garnered in 2015 for its prior secured lending fund, SSG Secured Lending Opportunities I.

The firm will continue to focus on higher grade private lending by investing in high quality, asset-rich corporates. The fund has a gross target return of 15 percent.

Established in 2009, the Hong Kong-based alternatives manager has launched six funds and has $2 billion in assets under management.

SSG declined to comment on fundraising.