King Street Capital Management closed the King Street Global Drawdown Fund at $1.2 billion.
The closing for the alternatives money manager's inaugural drawdown fund well exceeded its $750 million fundraising target, a spokeswoman said in an email.
The fund targets "distressed and stressed corporate debt, structured products, and asset-backed investments, as well as claims and claim-related opportunities," a news release said Thursday.
Investors include the $65.5 billion Maryland State Retirement & Pension System, Baltimore.
