King Street launches drawdown credit fund

King Street Capital Management raised $1.2 billion for its inaugural Global Drawdown Fund (GDF) with a long-duration credit focus.

The $20 billion manager plans to invest across the spectrum of distressed and stressed corporate debt, structured products and asset-backed investments as well as claims and claim-related opportunities, according to a corporate announcement.

“GDF underscores our strong track record of sourcing and investing in complex and misunderstood situations,” said Brian Higgins, co-founder and managing partner of New York-based King Street. “We look forward to applying our fundamental, research-intensive approach . . .

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