The fundraising goal for Strategic Value Special Situations Fund VI was disclosed during a recent meeting of the New Jersey State Investment Council, which committed $100m to the fund. SVP declined to comment on the fundraising efforts. Founded by Victor Khosla in 2001, SVP focuses on acquiring debt from middle-market, asset-heavy companies in legacy industries. According to New Jersey SIC Chief Investment Officer Shoaib Khan, the firm's strength lies in its ability to source investments at competitive prices, particularly through direct sourcing. SVP has significantly increased its direct deal flow, with 80.5% of Fund V investments coming from banks and private credit firms, up from just 7.4% in Fund I. Fund VI is targeting a 15% internal rate of return (IRR), consistent with the performance of its last four funds. The broader distressed debt market has seen increased activity as inflation, economic uncertainty, and higher borrowing costs weigh on highly leveraged firms. Sectors...
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