London private equity firm, Kelso Place Asset Management, has started a £75 million fund to invest in turnaround opportunities in the U.K., Private Equity News reports. The U.K. Special Situations Fund IV will also be available to outside institutional investors.
The fund will invest in turnaround and special situations opportunities, such as financial restructuring, operational turnarounds, corporate orphans and acquiring businesses from distressed vendors. The fund will buy controlling stakes in U.K. mid-market businesses with annual revenues of £10-£100 million.
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This article was originally published in Alternative Investment News.