Alternative asset management firm, Black Diamond Capital Management, has closed the BDCM Opportunity Fund III. The fund, which executes the control distressed / private equity strategy, has raised $800 million.

The new investors in fund III include public and corporate pension plans, along with financial institutions and family offices. The fund will strategically deploy capital and seek to gain control of companies through the purchase and subsequent restructuring of debt securities.

Click here for the release from PR Newswire.