Black Diamond Capital Raises $800M Fund III

Black Diamond Capital Management LLC, the alternative asset management firm based in Connecticut, has raised a $800 million third fund. The fund will execute the same control distressed/private equity strategy initiated with the establishment of Black Diamond’s 2003 vintage fund.

PRESS RELEASE:

GREENWICH, Conn., May 5, 2011 — Black Diamond Capital Management, L.L.C. (“Black Diamond”), a leading alternative asset management firm with over $6 billion in assets under management, today announced the successful close of BDCM Opportunity Fund III, L.P.
BDCM Opportunity Fund III, L.P. (“Fund III”) is an $800mm fund focused on executing the same successful control distressed / private equity strategy initiated with the establishment of Black Diamond’s 2003 vintage fund. Fund III will work to strategically deploy capital, with the goal of gaining control of highly attractive companies primarily through the purchase and subsequent restructuring of debt securities. In doing so, Black Diamond seeks to acquire middle-market companies that possess strategic assets and are market leaders in their respective industry sectors.
“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. 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. I would also like to personally welcome our newest investors in Fund III, which include many prominent public and corporate pension plans, as well as financial institutions and family offices. We are proud to be entrusted with their capital and are committed to pursuing superior returns on their behalf,” said Mr. Stephen Deckoff, Managing Principal of Black Diamond Capital Management.
About Black Diamond Capital Management:
Black Diamond Capital Management is a leading alternative asset management firm with over $6 billion in assets under management. With complementary control distressed/private equity, hedge fund and CLO vehicles, Black Diamond invests in performing, stressed and distressed securities. Founded in 1995, Black Diamond has offices in Greenwich, CT and Lake Forest, IL.
SOURCE Black Diamond Capital Management, L.L.C.