London-based hedge fund manager, Ironshield Capital Management LLP, has announced the first close of its Ironshield Credit Opportunities Fund LP (ICOF), with a €300 million capacity.
The fund, launched in response to the cessation of low-interest rates, seeks to capitalise on opportunities in European distressed credit assets, aiming for a targeted Internal Rate of Return (IRR) of 25%.
The ICOF has already made its first investments and has partially called the capital.
The fund is managed by Ironshield’s team of credit specialists, which includes chief investment officer (CIO) and founder, David Nazar, alongside partner and senior analyst, Sunny Chhabra. Nazar and Chhabra bring a combined 40 years of experience in credit investing to the fund’s management team.
Nazar said, “We are pleased to announce the successful first close of ICOF, which demonstrates investors’ interest in the distressed opportunity and their confidence in Ironshield’s ability to take advantage of it.
“ICOF’s closed-end structure is ideally suited to the current environment and has been created to deliver compelling returns.”
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