Key Takeaways
- • Mediobanca-owned alternative credit manager Polus Capital Management has raised about $600m to date for its second special situations fund, according to AltAssets.
- • The raise marks Polus's return to fundraising after deploying almost all of its predecessor fund, which was €890m in size.
- • The fund is a special situations vehicle, positioning Polus within the distressed and opportunistic alternative credit segment.
- • Source details beyond the headline and publisher summary are limited, as the full article is behind a premium paywall.
Summary
Mediobanca-owned alternative credit manager Polus Capital Management has raised about $600m to date for its second special situations fund, according to AltAssets. The figure is a interim total and the fundraising remains ongoing, so the final close size has not been reported.
The raise represents Polus's return to the market following the deployment of nearly all capital from its first special situations fund, which had a size of €890m. Deploying almost all of a predecessor vehicle before launching a successor is a common pattern among specialist credit managers, and it allows the firm to demonstrate realized deployment before approaching investors for new capital.
Polus Capital Management operates as an alternative credit manager under the ownership of Mediobanca, the Italian investment bank. The strategy focuses on special situations, typically involving opportunistic and stressed or distressed credit investments. Full details on the second fund's target size, strategy allocation, and investor base are contained in the premium version of the AltAssets report and were not available in the source material reviewed.
The raise represents Polus's return to the market following the deployment of nearly all capital from its first special situations fund, which had a size of €890m. Deploying almost all of a predecessor vehicle before launching a successor is a common pattern among specialist credit managers, and it allows the firm to demonstrate realized deployment before approaching investors for new capital.
Polus Capital Management operates as an alternative credit manager under the ownership of Mediobanca, the Italian investment bank. The strategy focuses on special situations, typically involving opportunistic and stressed or distressed credit investments. Full details on the second fund's target size, strategy allocation, and investor base are contained in the premium version of the AltAssets report and were not available in the source material reviewed.
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