Arena Investors has announced the final close of its Special Opportunities Partners Fund III with $1.091 (£800m) of commitments.
It follows the close of its prior multi-strategy vintage, Arena Special Opportunities Partners Fund II, in August 2022 with $930m.
Read more: Metric Capital Partners closes fifth fund at €1bn
The firm’s multi-strategy asset and credit strategy will continue to focus on flexible financing solutions in situations where borrowers are unable to access traditional sources of capital.
The most recent capital commitments come from a global set of institutional investors including insurance company investors, retirement funds and multi-family offices.
Read more: Beach Point Capital raises over $1.25bn for opportunistic private credit funds
“Arena is playing offense as high interest rates, geopolitical uncertainty, and inflation continue to disrupt the global economy,” said Dan Zwirn, chief executive and chief investment officer at Arena.
“The risks of overcommitting to conventional private credit strategies are now becoming apparent. Our agility and ability to rapidly identify, structure, and execute complex transactions without a need to be in one particular private credit sub-asset class will enable us to capitalise on this disruption on behalf of our investors.”
Read more: Crestline raises $1.7bn for third NAV lending fund
