Diameter Capital Partners LP, a New York-based alternative asset manager focused on the global credit markets, has closed its Diameter Dislocation Fund II at the hard cap with $2.2 billion of capital commitments.

The closed-end drawdown fund will invest across sectors and focus on dislocated performing credit, stressed and distressed investments emerging from either micro-cyclical dislocations or macro challenges. The strategy uses Diameter’s approach with portfolio management and position struction. DDF II looks to benefit from Diameter’s combination of research and trading to capitalize equickly on dislocation opportunities. To date, Diameter has called 35 percent of DDF II’s committed capital.

“We are grateful for the strong support DDF II has garnered from current Diameter clients during a time of heightened market volatility and are particularly pleased to welcome a significant number of new investors to our limited partner base,” states Scott Goodwin and Jonathan Lewinsohn, co-founders and managing partners of Diameter Capital Partners.