Hayfin Capital Management raised more than its original 2 billion euro ($2.3 billion) target for a new fund looking at companies hit by Covid-19 or in restructuring, according to an emailed statement.
Hayfin Special Opportunities Fund III is a private credit fund that will invest in opportunities arising from asset price dislocation created by the pandemic. The firm’s private credit Special Opportunities strategy provides rescue loan or restructuring capital, as well as investing in out-of-favor industries and purchasing non-performing or underperforming loans from European banks.
“We continue to see a range of compelling deployment opportunities for our Special Opportunities strategy, offering attractive risk-adjusted returns for our investors,” said Tim Flynn, Chief Executive Officer and co-founder of Hayfin in the statement. The firm manages 22 billion euros of assets across all its strategies.