Hedge Funds

Khosla finally opens up his credit fund

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New York-based Strategic Value Partners, the $1.2 billion in global distressed and high yield group headed by Victor Khosla, is opening up its Credit Opportunities Fund to a broader group of outside investors.

The Strategic Value Credit Opportunities Fund, a long/short high yield strategy which began trading in November 2003 and invests globally in bank debt, bonds and credit derivatives, has so far been run with seed capital of $200 million - primarily from three core investors.

The firm appears to be keen to take the asset size up to around $600 million in order to take advantage of