Invesco Ltd., a global asset management firm, has closed its Invesco Credit Partners Fund II, a global distressed credit and special situations fund.

The fund will be managed by the firm’s subsidiary, Invesco Senior Secured Management. The fund closed with $644 million in committed capital and co-investment vehicles which exceeds the firm’s original target. The fund will look to focus on small cap firms where markets are less efficient and capital deployment is less cycle-dependent.

“Our primary focus is on small capitalization companies where we can target both inefficiencies as well as asymmetric returns while seeking to limit downside risk through a focus on senior positions in capital structures,” said Paul Triggiani, the firm’s head of distressed credit and special situations. “Today’s market environment continues to provide a robust pipeline of opportunities both in the U.S. as well as in Europe.”