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Hayfin closes special opportunities strategy at €2.2 billion

Hayfin Capital Management closed its special opportunities strategy at €2.2 billion ($2.5 billion) in commitments.

The capital commitments have been raised across the Hayfin Special Opportunities Fund II and parallel "fund-of-one" vehicles, which have identical investing periods and terms to the commingled fund. A spokesman for Hayfin said the target size of fundraising was not disclosed.

The strategy invests in illiquid, undervalued hard assets and corporate debt structures across a number of sectors and asset profiles, including rescue financings and debt restructurings.

Funds were raised across the globe and from pension funds, insurance companies, sovereign wealth funds and endowment funds, said a news release by Hayfin.

The $52.7 billion Pennsylvania Public School Employees' Retirement System, Harrisburg, committed $200 million to the U.S. dollar version of the fund in March 2016. In January 2016, the $44.4 billion Tennessee Consolidated Retirement System, Nashville, approved a $50 million commitment to the fund.