Firm: Avenue Capital
Fund: Avenue Special Situations VI LP
Target: $2 billion
Amount Raised So Far: $1 billion
Legal Adviser: Paul, Weiss, Rifkind, Wharton & Garrison LLP
Avenue Special Situations VI has a $2 billion target, according to a
The firm is likely to hold the fund’s final close in the first quarter of 2011.
The New York-based shop uses a “theme-driven, concentrated investment strategy that is analytically intensive and relies upon individual credit, industry and macro research and analysis,” the Michigan document stated. When an investment opportunity is located, the firm then finds the most attractive investment in the business’s capital structure by deciding which security there is the most undervalued in relation to fundamental value and investment risk.