Anchorage Raises $1.5 Billion for Credit Opportunities Fund

Anchorage Capital Advisors has raised $1.5 billion for its latest fund that invests in stressed and distressed credit, special situations and structured credit, according to a person familiar with the matter.

The Anchorage Credit Opportunities Fund IX exceeded its initial $1.25 billion hard cap. The fund is managed by Thibault Gournay and James Frost, and invests in the US and European markets. Limited partners in prior fund vintages represented over 70% of capital commitments, said the person, who asked not to be identified discussing private information.