(Bloomberg)Knighthead Capital Management, the $3 billion distressed-debt hedge fund firm, is planning on raising its first drawdown fund, according to people with knowledge of the matter. The New York-based company, which was founded a decade ago by Ara Cohen and Tom Wagner, will begin fundraising in the second quarter of this year and is aiming to raise as much as $750 million, said the people, who asked not to be named because the matter is private. The Knighthead Distressed Opportunities Fund will focus on global stressed and distressed credits.

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