LCM Partners Adds €4.1 Billion for Credit Opportunities Strategy

European alternative asset manager LCM Partners Ltd., which is partly owned by Brookfield Asset Management, has raised €4.1 billion ($4.5 billion) for the latest vintage of its Credit Opportunities strategy.

London-based LCM reached final close on its Credit Opportunities 4 Strategy after drawing commitments from 23 institutional investors, including pension plans, sovereign wealth funds and insurance companies, spread across North America, Europe and Asia, according to a statement seen by Bloomberg News.

The funds are being invested into pools of performing and non-performing loans from banks and other types of financial institutions. LCM had originally targeted €4 billion from ...