Press Release: Close of SVSS II at $918 million

Greenwich and London, 2 February 2012 – Strategic Value Partners (SVP), a leading global investment firm focused on distressed, event driven and turnaround investments, today announced the final closing of Strategic Value Special Situations Fund II (“SVSS II”) at $918 million. The Fund had an original target of $600 million.

SVSS II will follow the same strategy as its highly successful predecessor, SVSS I, by investing in distressed and deep value corporate opportunities in the middle-market, and by exerting material influence, both during and after restructuring. As with SVSS I, SVSS II expects to generate returns on individual investments over a period of two to three years, rather than through shorter term trading-oriented transactions.

SVSS II will pursue investments globally but, given the compelling opportunities that SVP sees in Europe, a majority of its investments are expected to be outside the US.

With offices in Greenwich (CT), London, Frankfurt and Tokyo, SVP employs more than 100 individuals, including an investment team of 40 professionals, half of whom are based in the European offices. Since its inception in 2001, SVP has invested and, in many cases, taken a leadership role in more than 200 corporate restructurings, over 100 of which have been outside the US.

SVSS II received strong support from investors around the world including prominent institutions from the US, Europe, Australia, the Middle East and Japan.

Victor Khosla, Founder and Chief Investment Officer of SVP, said, “I would like to thank our investors for their support of SVSS II. SVP has an exceptional pipeline of deals that we estimate has grown 2.5 times in the last 18 months. We are excited by the opportunities we see for SVSS II.”