Black Diamond Closes Fund III on $800M

Black Diamond Capital Management has closed its BDCM Opportunity Fund III after securing $800 million of committed capital. The fund will primarily purchase and restructure debt securities with the goal of gaining control of companies. Black Diamond previously secured $982 million for Fund III's vintage 2006 predecessor, which as of September 30, was reporting a 7.2% IRR and a TVPI of 1.12x.