Man Group announced the first close of its Man Opportunistic Credit Fund III, which is targeting $1.25 billion in total commitments. The firm expects to hold a final close within 12 months of the initial fundraising milestone.
The fund's capital commitment period will end early if it reaches a $1.5 billion hard cap, the company said in a press release.
The fund builds on an opportunistic credit strategy with a track record spanning more than a decade and two previous fund vintages. Led by Jason Dillow, the team invests across both private and public credit markets using a generally unlevered approach.
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