Asia-focused credit and special situations investor SSG Capital Management has reportedly raised approximately US$1.7 billion for its fourth special situations fund, SSG Capital Partners IV, and closed its second direct lending fund, SSG Secured Lending Opportunities II, at its hard cap with US$800 million in capital commitments. The former reportedly expects to generate an annual return of 20 percent, while the latter has a gross target annual return of 15 percent. The funds were launched in October and are already deploying capital.