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 firm, which has over $8.7 billion in committed capital, is looking to raise $1 billion for the fund, said an industry official. Sankaty has over $3.3 billion in bank loan investments.
The fund will follow a similar investing strategy to a vehicle launched by Sankaty in 2002 with $500 million. It will make distressed and mezzanine plays in addition to special opportunity investments, he added. It is slated to be launched sometime around April. Calls to Jonathan Lavine, cio, were referred to a spokesman, who declined comment.