London, New York - CVC Credit Partners, a leading global alternative investment manager focused on sub-investment grade debt capital markets in the US and Europe, today announced the final closing of its Global Special Situations Fund ("the Fund"), focused on stressed and distressed corporate credit predominantly across Europe.

The CVC Credit Partners Global Special Situations Fund received strong backing from both new and existing investors, exceeding its €600 million fund target with total commitments secured of approximately €650 million. The Fund received commitments from investors in North America, Latin America, Asia, Europe and the Middle East. With over €1.86 billion already committed to the strategy via Separately Managed Accounts and our Credit Opportunities vehicles, CVC Credit Partners' Credit Opportunities and Special Situations strategies now have total commitments of over €2.5 billion.

In addition to the Credit Opportunities and Special Situations strategies, CVC Credit Partners operates both Performing Credit and Private Debt strategies, and has US$14.4 billion in assets under management.

Steve Hickey, Managing Partner and Chief Investment Officer of CVC Credit Partners, commented: "We're very pleased that we were able to attract a diverse mix of investors to our credit opportunities and special situations strategies. CVC's local office network across the US and Europe provides us with broad access to a wide range of investment opportunities, as well as invaluable market insight and local relationships, as we continue to enhance CVC Credit Partners' growing platform."

Mark DeNatale, Partner and Global Head of Special Situations, said: "We believe the structural changes across the European banking landscape, potentially impacted by the recent UK referendum result, have created attractive investment opportunities for disciplined investors, like ourselves. We look forward to investing further in the space, delivering consistent value for our investors."