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 (Picture) 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.
Involved fees earner: Marc Biamonte – Ropes & Gray; Catherine Skulan – Ropes & Gray; Justin Floyd – Ropes & Gray; Stacey Shen – Ropes & Gray; Adam Greenwood – Ropes & Gray; Daniel Zuckerman – Ropes & Gray;
Law Firms: Ropes & Gray;
Clients: Strategic Value Partners;