Debevoise Helps FS Investments Close Tactical Opportunities Fund

Debevoise & Plimpton advised Philadelphia-headquartered alternative asset manager FS Investments on the closing of its new private fund aimed at institutional investors.

The FS Tactical Opportunities Fund is managed by the same team guiding the firm’s $2.1 billion in liquid credit & special situations investments. The fund employs a credit strategy that seeks to generate off-market yield and returns compared to traditional credit asset classes. It originates direct investments and acquires secondary investments focused on complex, niche or unconventional situations, according to a statement.

To date, the tactical opportunities fund has called around 50% of capital commitments and invested in ...