Siguler Guff Closes Distressed Fund-of-Funds

NEW YORK (Reuters) – U.S. private equity investment firm Siguler Guff & Co has raised $2.4 billion to invest in distressed opportunities around the world, a source at the company said on Thursday.

New York-headquartered Siguler Guff manages or co-manages several direct investment private equity funds and fund-of-funds, according to its website.

The new Siguler Guff Distressed Opportunities Fund III, finished raising money on Tuesday. It will be a fund-of-funds focusing on global distressed opportunities, including control and turnaround situations, the source said. The firm originally sought to raise $1.5 billion for the fund, the source said.

Siguler Guff’s first distressed opportunities fund raised nearly $600 million, according to its website, and its second fund had committed capital of nearly $1 billion.

By Megan Davies