Strategic Value Partners has closed its event-driven and special situations credit fund, Strategic Value Dislocation Fund, at $1.7 billion in commitments.
The fund will target a series of distressed debt opportunities, including liquid- and event-driven trading and debt-for-equity restructurings. More than 25% of the fund's capital has already been deployed.
SVPGlobal closed its last Special Situations Fund, Fund IV, in April 2018 at its $2.9 billion hard cap.
Investors in the latest fund include the $16.2 billion Orange County Employees Retirement System, Santa Ana, Calif.