Anchorage Targets $1 Billion for Opportunistic Credit Fund

Anchorage Capital Group is raising money for a new fund focused on distressed debt and special situations in the US and Europe, according to people familiar with the matter.

The firm has raised $750 million so far for the Anchorage Credit Opportunities VIII fund and is targeting $1 billion with no hard limit, said one of the people, who asked not to be named discussing private information. It will also invest in illiquid claims, structured credit and opportunistic credit. A representative for Anchorage declined to comment.

Overall, Anchorage has raised $1.6 billion in the last year for structured and opportunistic ...