New York (HedgeCo.net) – Los Angeles-based multi-strategy hedge fund manager, Tennenbaum Capital Partners LLC., has announced the final close of the Tennenbaum Opportunities Fund VI, LLC. With capital commitments of $530 million from new and existing limited partners, the fund will focus on discounted and debt-for-control oriented market opportunities as well as complex, directly-originated financings.
“The successful fundraising stems from our consistent performance and from investors’ confidence in our ability to execute on quality investments,” said Mark Holdsworth, Managing Partner and co-founder of TCP. “We look forward to great opportunities over the coming months.”
TCP invests primarily in private and public companies across a broad range of industries. In 2009 TCP raised $454 million through its DIP Opportunity Fund, LLC, bringing its two-year fundraising total to approximately $1 billion. Since its founding, TCP has invested approximately $10 billion in almost 200 companies where the Firm can play a meaningful role.
“We are very pleased with the support we received from new and existing investors,” said Howard Levkowitz, Managing Partner and co-founder of TCP. “Many of the world’s most sophisticated institutional investors have chosen to invest with us and we are excited to continue working on behalf of our investors.”
Limited partners in the Fund include both public and corporate pension funds, insurance companies, other financial institutions, foundations, endowments, family offices and high net worth individuals.
Skadden, Arps, Slate, Meagher & Flom, LLP served as Fund counsel while Greenhill & Co., LLC served as the Fund’s exclusive global placement agent.
Editing by Alex Akesson