(FINalternatives) European credit specialist Hayfin Capital Management has raised €2.2 billion in capital commitments for its second closed-end special opportunities fund and associated parallel vehicles.
The new fund, named the Hayfin Special Opportunities Fund II, will invest in illiquid, undervalued hard assets and corporate debt structures across a number of sectors and asset profiles, the company said in a statement, including turnarounds, non-performing loans and debt restructurings. It will reportedly have an eight-year time span and target a 15%-20% gross IRR from investments across a range of sectors, as well as the provision of asset-back financing for inventory and equipment of distressed companies in sectors including healthcare, retail, shipping and oil & gas.
