Glendon tops $2 bln, heads for $2.5 bln cap for distressed investments

Barclays, Glendon, private equity
A Barclays sign is seen outside a branch of the bank in London, Britain, February 23, 2017. Photo courtesy REUTERS/Stefan Wermuth - RTSZZTM
  • Glendon's delayed-draw fund approaches cap
  • Fund II employs back-ended carried interest
  • Charges fees on invested capital
Glendon Capital Management has raised more than $2 billion for a second fund that won’t be drawn until triggered by market conditions and related factors, according to a source with knowledge of the fundraising and public pension documents. The firm is heading ...

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