Ironshield Capital Management LLP (Ironshield), a London based hedge fund manager, has announced the first close of its Ironshield Credit Opportunities Fund LP (ICOF), with a €300m capacity.

The fund was launched in response to the cessation of low-interest rates. It seeks to capitalise on opportunities in European distressed credit assets, aiming for a targeted Internal Rate of Return (IRR) of 25%, and has already made its first investments.

The fund is managed by Ironshield’s team of credit specialists, which includes Chief Investment Officer and founder, David Nazar, alongside partner and senior analyst, Sunny Chhabra.