New York firms close hospitality-focused $1.5bn distressed debt fund

As the post-COVID distressed opportunity builds, so do the fund closes.

The CK Opportunities Fund closed with $1.5 billion in commitments for investments in travel, tourism and hospitality sectors.

Certares Management and Knighthead Capital Management said the fund exceeded its initial target of $1 billion over a six-month fundraising period in a fully virtual environment. This is the first co-managed fund for the firms, and together they aim to be a preferred capital solutions provider for companies faceting acute liquidity and financing needs.

Since October 2020, the fund has . . .

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