Sankaty Middle Market Opportunities Fund II plans to continue fundraising for the next several month and close the fund on its $1.5bn hard cap, said Dow Jones, citing a person with knowledge of the matter.
The fund will target mezzanine financing, special situations and secondary opportunities, said the person.
A document filed with the US securities and Exchange Commission showed that the fund has received $1.008bn from 42 LPs.
The LPs that have committed to the fund include Pennsylvania’s Public School Retirement System, which approved a $200m investment in May this year.
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