Private equity firm Origami Capital Partners closed a third fund, aimed at buying illiquid assets in complex legal structures or difficult ownership situations, with $371 million in commitments from investors.

Chicago-based Origami Capital is headed by Thomas Elden, who started the firm in 2008, and Jeff Young. The firm invests in assets trapped by legal, structural, valuation or ownership issues, including assets owned by hedge funds, real estate funds and private equity funds, as well as minority interests in alternative investments firms, non-performing loans and debt, bankruptcy and litigation claims. Origami Capital focuses on $10 million to $50 million investments in North America and Europe; the new fund is Origami Opportunities Fund III. Origami Capital has $543 million under management, according to a March filing with the U.S. Securities and Exchange Commission.

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