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Ropes & Gray Advises SVPGlobal on $5 Billion Strategic Value Special Situations Fund V

Practices: Asset Management, Real Estate Investments & Transactions, Tax, ERISA

Ropes & Gray advised Strategic Value Partners, LLC and its affiliates (SVPGlobal), on the successful fundraise of Strategic Value Special Situations Fund V ("SVSS V" or the "Fund"), which hit its hard cap of $5 billion, announced on Aug. 3. SVPGlobal is a global investment firm focused on distressed debt, special situations and private equity opportunities with more than $17.5 billion in assets under management. 

This fund closing, when combined with SVPGlobal's existing portfolios and other fund raises, has increased SVPGlobal's total assets under management to more than $17.5 billion, making it one of the largest global investors in the distressed debt and special situations space. 

SVSS V, which completed fundraising only three months following its first close, received significant demand beyond its hard cap and closed well above the Fund's $4 billion target with support from a diverse and global base of existing and new investors. The Fund also exceeded the size of its predecessor, SVSS IV and associated vehicles, which closed in April 2018 at the hard cap of $2.85 billion. 

Asset management partner and institutional investors team co-leader Marc Biamonte, led the Ropes & Gray team advising SVPGlobal, which included real estate partner Walter McCabe, tax partner Jay Milkes, ERISA partner Josh Lichtenstein, and asset management counsel Catherine Skulan

Marc Biamonte also led the Ropes & Gray team that advised SVPGlobal on the Fund’s predecessor funds Strategic Value Special Situations Fund IV and Strategic Value Special Situations Fund III.

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