Z Capital Closes Special Situations Fund II at $750 Million
Z Capital Partners announced the final close of Z Capital Partners Special Situations Fund II, L.P. on June 30, 2014, with total capital commitments of $750 million. Fund II generated significant interest from investors and exceeded its initial target of $500 million.
Fund II consists of 30 new global, limited partners, with a variety of institutional investors, including sovereign wealth funds, pension funds, wealth management firms, family offices and insurance companies located in North America, the UK, Europe, Africa, Asia and the Middle East. Fund II will focus on long term control investments in middle-market companies that may require growth capital, turnaround or restructuring.
“We are pleased to announce the close of Fund II with $750 million of committed capital, well exceeding our initial target goal,” said James J. Zenni, Jr., president and chief executive officer of Z Capital. “We received interest of approximately $1 billion from limited partners, which we believe, together with the global footprint of our investor base, is a testament to our leading track record, proven investment strategy and experienced leadership team. As we have done for over a decade, we will continue to capitalize on opportunities to maximize value for our investors through our opportunistic, value-oriented approach.”