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Ropes & Gray Advises SVPGlobal on Formation of $2.85 billion Special Situations Fund IV

Practices: Private Investment Funds, Tax, Private Equity, Sponsor Representation, Asset Management, Special Situations

Ropes & Gray advised Strategic Value Partners, LLC and its affiliates SVPGlobal, on the formation of Strategic Value Special Situations Fund IV (SVSS IV). The Fund announced its final close on May 2 at its hard cap of $2.85 billion in commitments. 

SVSS IV received significant demand beyond its hard cap, closing above the Fund's $2.1 billion original target, with support from a diverse and global base of both existing and new investors. The Fund also exceeded the size of its predecessor, SVSS III, which closed in November 2014 on a total of $1.56 billion. 

Founded in 2001 and headquartered in Greenwich, CT, SVPGlobal is a global investment firm focused on distressed and deep-value opportunities. 

The Ropes & Gray team was led by private investment funds partner Marc Biamonte and included tax partner Adam Greenwood, private investment funds counsel Catherine Skulan, private investment funds associate Justin Floyd, tax & benefits associate Dan Zuckerman, and corporate associate Shudan Shen

Private investment funds partner Marc Biamonte also advised SVPGlobal on SVSS Fund III.