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The credit fund’s close exceeded the $1.5bn target by $800m and will target areas including non-sponsored lending
The fund manager is drawing close to its fund target and expects to hold a formal fourth close in early December.
The alternative asset manager bought the firm through a 'complex structured acquisition.'
The credit firm now has $15.4bn of investable capital following the raising of its fifth fund and parallel vehicles.
The fund is expected to close at $1.5bn before the end of year.
The second asset-based fund hit its hard cap, and surpassed its $500m target.
Carl Marks Advisors, the financial advisory group, believes companies will have to soon make changes to their loans.
The proposed allocation would be deployed via liquid, broadly syndicated loans.
The world’s most mature private debt market is to be found in the US. It is also currently a hive of activity as it shakes off the effects of the health crisis.
The manager expects a final close of the special situations fund by 2022.

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