CPG Capital Resources announces the formation of CPG Credit Fund II .
CPG Capital Resources (the Sponsor) is starting its fund raising efforts for the CPG Credit Fund II. The fund will invest in direct originated high yield senior secured loans primarily to middle market companies. Unlike conventional mezzanine and distress investors, CPG invests in transactions secured by discrete hard assets where the Sponsor has existing commercial asset management expertise. The fund is targeting investors seeking shorter duration, asymmetric risk oriented investments with high current cashflow yields. The target fundraise is $200 million with an estimated initial closing in Q3 of 2010.