Victory Park Closes Distressed Debt Fund At $480M

Law360, New York (November 28, 2011, 2:17 PM EST) -- Chicago private investment firm Victory Park Capital has raised $480 million for its distressed equity and debt vehicle VPC Fund II, which will provide capital for underserved U.S.-based companies, the firm announced Monday.

Victory Park, which recently helped pull defunct airline Gulfstream International Group Inc. and pizza chain Giordano’s Enterprises Inc. out of bankruptcy, said it plans to continue investing in distressed companies in the lower end of the middle market that show promise of growth.

The $480 million VPC Fund II exceeded the firm's target...
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