SVSS V already has made or announced investments in the basic industrial, aviation and real estate sectors. Like its predecessor Special Situations Funds, SVSS V is focused on restructurings, event-driven investments, special situations and trading-oriented opportunities in North America and Europe.
The Fund also exceeded the size of its predecessor, SVSS IV and associated vehicles, which closed in April 2018 at the hard cap of $2.85bn. SVSS V, which completed fundraising only three months following its first close, received significant demand beyond its hard cap and closed well above the Fund’s $4bn target with support from a diverse and global base of existing and new investors. This fund closing, when combined with SVP Global’s existing portfolios and other fund raises, including last summer’s approximately $1.7 billion Dislocation Fund, has increased SVPGlobal’s total assets under management to more than $17.5bn, making it one of the largest global investors in the distressed debt and special situations space.
The Elvinger Hoss Prussen team was led by partner Karl Pardaens.Strategic Value Partners and its affiliates (SVP Global), a global investment firm focused on distressed debt, event-driven investments, special situations and private equity opportunities, has held the successful final closing of Strategic Value Special Situations Fund V (SVSS V) at its hard cap of USD5bn. The team was supported by special counsels Michael Pujol (Munich) and Andrea Eggenstein (Frankfurt, both Corporate/M&A) as well as Alison Beal (Technology, London) and the associates Fritz Schuchmann, Pascal Haerdtner, Alexandra Schaefer, Maximilian Pechtl, Markus von Lutterotti, Mahmood Kawany (all Munich), Gemma Cullen, Sarah Ullathorne (all Corporate/M&A, London), Bradley Pearson, Matt Slider, Joel Brand, Coral O’Connor, Glenn Kim, Victoria Mansoor (all Transportation and Space), Alex Wang (Corporate/M&A, all New York), Katherine Soanes, Natasha Neale (both Technology, London), Odilo Wallner, Gerrit Merkel, Sebastian Trompler (all Finance, Frankfurt), Nils Bremer (Antitrust, Munich), Martin Brennan (Alternative Investment) and Cosmos Fung (Tax, both London). The Milbank Team was led by partners Sebastian Heim (Corporate/M&A, Munich, Picture) and Drew Fine (Transportation and Space, New York) and included the partners Thomas Kleinheisterkamp (Tax), Alexander Rinne (Antitrust, both Munich), Thomas Ingenhoven (Finance, Frankfurt), Freyda Mechlowicz (Transportation and Space, New York), Joel Harrison (Technology, London), Lisa O’Neill (Corporate/M&A) and Russell Jacobs (Tax, both London). The business will continue to be led jointly by Jon Skirrow and Stephan Sayre. Forty-five employees manage approximately 160 aircraft on lease to more than 80 airlines globally, representing approximately $5 billion in total asset value. The Aviation Investment and Asset Management business is a global aviation management platform that provides turnkey solutions for financial investors looking to deploy capital in aircraft assets, through origination, structuring, execution, fund management and a full-fledged range of servicing activities. EnTrust and SVPGlobal’s support is expected to further enhance the business’s growth internationally and allow it to explore complementary opportunities arising from the current aviation industry dislocation. The business will be acquired through Deucalion Aviation Limited, a newly incorporated UK joint venture company between EnTrust and SVPGlobal. The Blue Sky Aviation strategy of EnTrust Global, a leading alternative asset management firm, and funds managed by Strategic Value Partners and its affiliates, a global investment firm, announced the acquisition of DVB Bank Group’s Aviation Investment and Asset Management business, a leading global aviation services company. While Elvinger Hoss Prussen advised the Blue Sky Aviation strategy of EnTrust Global and funds managed by Strategic Value Partners.
Milbank LLP advised SVP Global and EnTrust Global on the deal.