CarVal Investors wraps up fourth credit fund at $3 bln

CarVal Investors has closed its fourth credit fund at $3 billion. CVI Credit Value Fund IV will focus on “portfolios of whole loans coming out of the deleveraging of European banks, U.S. non-performing and re-performing loan portfolios, corporate securities in developed and emerging markets, structured credit securitizations, aviation and other hard assets.” The fund’s investors include Cargill as well as public and private pension plans, sovereign wealth funds, endowments, foundations, family offices, fund of funds and corporate investors across North America, Europe, Asia and the Middle East.

PRESS RELEASE

MINNEAPOLIS – CarVal Investors, a leading global alternative investment manager, has announced that it has completed the final close of CVI Credit Value Fund IV (CVF IV or “the Fund”) with $3.0 billion in commitments. The Fund is investing in undervalued opportunities with a strong focus on portfolios of whole loans coming out of the deleveraging of European banks, U.S. non-performing and re-performing loan portfolios, corporate securities in developed and emerging markets, structured credit securitizations, aviation, and other hard assets.

The Fund has 86 institutional investors, including Cargill and a diverse range of public and private pension plans, sovereign wealth funds, endowments, foundations, family offices, fund of funds, and corporate investors across North America, Europe, Asia and the Middle East. Over 80 percent of the Fund’s capital commitments came from existing investors in CarVal’s funds.

“We are so pleased with the support of our existing and new partners in CVF IV,” said Lucas Detor, a managing principal of CarVal Investors. “CVF IV is carrying forward a similar investment strategy as CVI Credit Value Funds I, II and III, investing across our core credit strategies of loan portfolios, corporate securities, liquidations and structured credit. We believe the timing of CVF IV is opportune as we are seeing a resurgence of complex, idiosyncratic investment opportunities hitting the market which plays directly into CarVal’s strengths and the Fund’s mandate.”

About CarVal Investors
CarVal Investors is a leading global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, its experienced team has navigated through ever-changing credit market cycles, opportunistically investing more than $103 billion in 5,300 transactions across 79 countries. Today, CarVal Investors has $10 billion in assets under management in both credit and real estate strategies.

For more information, visit www.carvalinvestors.com.