Luxembourg-based alternative investment manager Silvercourt Capital Partners has closed its second fund at €135m (£116.5m), exceeding its target size.
Silvercourt, which focuses on opportunistic European credit strategies and distressed debt, said that despite a “challenging fundraising environment”, the fund was oversubscribed.
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The fund attracted a diversified investor base of family offices, endowments and institutional capital, with more than 90 per cent of Fund I investors recommitting to the second fund.
The firm said that fund II is well positioned to capitalise on expanding market dislocations, having already deployed approximately 40 per cent of its capital.
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“Our strategy demands deep technical expertise and hands-on execution. European liquidation processes are complex and the investment opportunity set is highly fragmented, creating compelling opportunities for investors with the specialist knowledge and network to navigate them,” said Timo Kienle, co-founder and managing partner at Silvercourt.
“The strong support for Fund II reflects confidence in our specialist approach.”
