Polus Capital raises €890m for special situations fund

Polus Capital Management closed its European-focused Special Situations Fund with €890 million, or $1.03 billion, in committed capital after over two years of marketing the vehicle to institutional investors, according to people familiar with the matter.

The fund exceeded the firm’s initial target of €750 million, the people said. With expected deal leverage, the fund gives the firm total investible capital of roughly €1.16 billion, they added.