Tennenbaum Capital closes $2 billion fund

SANTA MONICA, Calif., Sept. 13 (UPI) -- Tennenbaum Capital Partners of Santa Monica, Calif., said Monday it closed its fourth fund, the Special Value Opportunities Fund.

Tennenbaum, a private investment firm, said the closing brings the firm's total assets under management to more than $3.5 billion.

Commitments to the fund and its related fund total $2 billion and represent one of the largest pools of leveraged capital ever raised exclusively for investment in long-term, special situations, Tennenbaum said.

Tennenbaum said the fund will employ the same investment strategy Tennenbaum has executed successfully since its founding in 1996: value investing across the capital structure in complicated public or private special situations.