New York (HedgeCo.net) – Black Diamond Capital Management, LLC., a Connecticut hedge fund management firm with over $6 billion in assets under management, has raised $800 million for the BDCM Opportunity Fund III, LP., a fund focused on the same distressed/private equity strategy as Black Diamond’s 2003 vintage fund.
“I am extremely pleased with the continued support we have received from our existing investor base and am honored that so many of them have chosen to invest in Fund III.” Stephen Deckoff, Managing Principal of Black Diamond Capital Management said. “Our enduring relationships and the strength of this fundraise, in a difficult environment, are a testament to the experience, and passion of the Black Diamond team.”
Fund III will work to strategically deploy capital, with the goal of gaining control of attractive companies primarily through the purchase and subsequent restructuring of debt securities. “In doing so,” Black Diamond said, (we seek) “to acquire middle-market companies that possess strategic assets and are market leaders in their respective industry sectors.”
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