China-focused investment firm Shoreline Capital Management has reportedly raised $150m for its latest fund.
Shoreline China Value (CHV) III is expected to hold a final close by this autumn, said Dow Jones, citing a person directly involved in the process and a letter the firm sent to investors.
The firm, which is focused on Chinese distressed debt and special situation investments, closed its previous fund on $303m in March 2013.
The second fund was significantly larger than Shoreline’s $178.2m debut vehicle raised in 2008.
CHV II was backed by endowments, foundations, pensions, funds-of-funds, family offices and high-net-worth individuals based in North America, Europe, Asia and the Middle East.
Shoreline Capital currently has more than $400m of capital under management, which is invested in several billion dollars of distressed debt asset and equity.
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