Special Situations Fund
Special Situations Fund
Complex, dislocated, and event-driven investments.
Fund Size
$567.5M
Target Net IRR
13-18%
5-Yr MOIC
1.98x
Term
12-15yr
Strategy
Complex, dislocated, and event-driven investments across the specialty F&B universe.
Special Situations Fund is deployed against the ChocoJava operating plan through disciplined underwriting, direct sourcing, and standardized build-outs. Capital is drawn as opportunities meet the fund’s underwriting standards.
Discipline
How we underwrite
Every investment is measured against unit-level cash-on-cash, cohort maturation curves, and platform-level margin discipline. Nothing is deployed without a documented operating standard already in place.
Focus Areas
What Special Situations Fund funds
Complex situationsStructured, multi-party, and multi-asset transactions.
DislocationCapital deployed into market or capital-structure dislocations.
Event-drivenRestructurings, carve-outs, and other event-driven opportunities.
Structured investmentsPreferred equity, structured debt, and hybrid instruments.
Fund Terms
Key terms
Structure
Delaware LP with parallel vehicles.
Waterfall
European (whole-fund) with clawback.
Preferred Return
8% compounded.
Term
12-15 years, with two 1-year GP extensions.
GP Commitment
2% of committed capital.
Minimum LP
$2,000,000.
Investor Relations