Certares Management and Knighthead Capital Management have closed their first co-managed fund: the CK Opportunities Fund, which focuses on travel, tourism and hospitality companies that are facing acute liquidity and financing needs.
At $1.5 billion, it substantially exceeded its initial target of $1 billion during the six months it was raised virtually.
The sponsors said it received strong support from a diversified global investor base, including sovereign wealth funds, family offices, pensions, endowments and foundations, and financial institutions.
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