Sankaty Advisors, the fixed-income affiliate of private equity giant Bain Capital, is raising capital for a new multi-asset class credit opportunities fund. The Boston-based investor, which has over $8.7 billion in committed capital, is looking to raise $1 billion for the fund, said an industry official.
The fund will follow a similar investing strategy to a vehicle launched by Sankaty in 2002 with $500 million and will take positions in distressed and mezzanine credits, in addition to special opportunity investments, the industry official added. It is slated to be launched sometime around April. Further details about the structure and what it will buy could not be determined by press time. Calls to Jonathan Lavine, cio at Sankaty, were referred to a spokesman who declined to comment.