Finnish private equity firm Certior has announced the first close of its Certior Special Opportunities Fund (CSOF) on €35m.
The fund is backed by a group LPs, including pension funds and family offices. The new fund is managed by Certior Capital and is aiming to capture the opportunity arising from the significant wave of distressed loans that are emerging during the current global recession.
Certior will use the new money to invest in areas such as distressed debt, opportunistic strategies, special situations, non-performing loans and asset-backed securities.
“Investing in times of market dislocation and economic stress have historically produced the best returns in private markets,” said Ari Jauho, the chairman of Certior Capital. “While many large funds with distressed or dislocation themes have been launched in recent months, we strongly believe that alpha is far more readily available for funds below €500m in size and that transactions above around €30m will usually end up as competitive situations which generally mitigates against outsized returns.
“We have a long track record in working with new and emerging managers, often as a cornerstone investor and active co-investor, and are seeing a significant number of highly experienced individuals set up new funds in the current environment. We have already looked at over 50 potential fund and co-investment opportunities in this segment and have a number of deals in final due diligence.”
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