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Pemberton Capital Advisors closes strategic credit fund at $1.1 billion

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Pemberton Capital Advisors closed its Strategic Credit Opportunities Fund at €1 billion ($1.1 billion) in line with its initial target, a spokesman said.

The fund, focused on credit opportunities in Europe, partners with borrowers by offering junior capital to companies seeking to finance expansion or acquisitions.

Investors in the fund include the $25.1 billion San Francisco City & County Employees' Retirement System, which committed $60 million.

The fund has committed 50% of its capital to companies in France, Spain, the Netherlands, Germany, Switzerland and the U.K.