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KPS Capital Partners closes $1.2bn KPS Special Situations Fund III23/05/2007. Source: AltAssets. 
 Special situations private equity firm KPS Capital Partners has announced a first and final closing of KPS Special Situations Fund III, a $1.2bn fund focused on controlling investments in turnarounds, restructurings, bankruptcies and other special situations. The fund's original target size was $1bn.
Investors in the fund include public and private sector pension funds, funds of funds, major financial institutions, endowments and foundations, and family offices from North America, Europe and Asia.
Michael Psaros, co-founder and managing partner of KPS, said, 'We are delighted by the positive reception KPS Fund III received from the global investment community. The demand for our new fund reflects the success of our investment strategy, differentiated deal flow and the long-term continuity and depth of our senior investment team. We are gratified by the support we received from such a prestigious group of returning and new limited partners.'
KPS is the manager of the KPS Special Situations Funds, a family of private equity funds with over $1.8bn of committed capital focused on constructive investing in restructurings, turnarounds and other special situations.
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