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Glendon Capital Management raises USD2.5bn for second credit opportunities fund

Glendon Capital Management has successfully closed its second credit opportunities and special situations fund, Glendon Opportunities Fund II, with final commitments reaching the hard cap of USD2.5 billion.

Glendon’s senior investment team has spent the vast majority of their careers pursuing compelling dislocated or distressed opportunities globally.  The Fund’s limited partners are comprised of some of the largest and most respected domestic and international institutional investors from various sectors including public and private pension funds, financial institutions, foundations and endowments.  The Glendon Opportunities Fund, which closed in 2014, raised USD1.1 billion in total commitments.
“We are very grateful for the confidence and support of our limited partners and will utilise Glendon’s proven investment strategy and processes when investing this fund,” says Partner Holly Kim.  “The Fund’s closed-end, delayed draw structure that features a three-year activation period, enables us to be patient and deploy capital at optimal points in the next credit cycle in order to maximise returns for our investors.”
Park Hill Group acted as placement agent for Glendon, and Debevoise & Plimpton LLP served as its legal advisor.

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