Shoreline Raises $195M For Co-Investment Fund

China-focused distressed debt investment firm Shoreline Capital Management has held a final closing at US$195 million for a co-investment fund, according to a person with direct knowledge of the matter.

A regulatory filing dated on June 10 discloses that the fund, named Shoreline III Co-investment L.P., has raised US$115 million then.

The fund took less than a month from first to final closing, and was oversubscribed, said this person.

Last month, Shoreline reportedly closed its third fund, Shoreline China Value III L.P., with US$500 million in total capital commitments.

The firm, co-founded by Benjamin Fanger and Zhang Xiaolin in 2004, raised its maiden fund of US$178.2 million in 2008.

Its second fund, Shoreline China Value II L.P., closed at US$303 million in 2012.

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Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.