Investment firm Solic Capital is reportedly planning to raise $250m for a new fund.
The new vehicle will target distressed assets, said Dow Jones, citing a person familiar with the situation.
Shannon Advisors is acting as a placement agent for the fund.
The Evanston, Illinois-based firm is managed by the former co-leader of Navigant Capital Advisors and his team.
Solic currently has $300m of assets under management.
Distressed funds currently in the market include Alchemy Partners’ third investment vehicle, which is targeting £600m.
Copyright © 2014 AltAssets