Signal Capital Partners has raised US$1.1 billion for its European credit and real estate special situations investments fund.
The London-based private asset management firm said the fund has been backed by investors including pension funds, insurance companies, financial institutions and single-family offices across EMEA and North America.
The fund, which targets transactions of €25m–75m, has made seven investments to date, totalling €330m, the manager said.
Elad Shraga, CIO of Signal Capital, said: “We are proud to have raised one of the largest dedicated special situations funds in Europe at a time when capital raising conditions are extremely tough. Since Signal was founded in 2015 the business has gone from strength to strength and our latest fund is testament to the quality of our investment team and ability to deliver the compelling, risk-adjusted returns which investors have struggled to obtain from traditional asset classes.
“As the world returns to normal post-Covid-19 traditional lenders such as banks will be forced to review their loans books and release stock of non-performing loans. This will create attractive opportunities for us to step in and provide the support companies and real estate borrowers need to weather the after-effects of the pandemic and emerge in stronger shape.”