Shenkman Capital Closes $325 Million Credit Fund After 60% Gain

Shenkman Capital Management, the investment firm founded by junk-debt pioneer Mark Shenkman, closed its first fund designed to take advantage of rapid market moves after the vehicle returned more than 60% last year amid pandemic volatility, according to people with knowledge of the matter.

The gain represents a net annualized figure since the Shenkman Tactical Credit Fund’s March 2020 inception, said the people, who asked not to be named discussing a private matter. The firm ended fundraising for the drawdown fund this month after receiving over $325 million from new and existing Shenkman investors, according to a statement ...