SSG Capital Management, an Asia-focused special situations investor, has closed its second special situations fund, SSG Capital Partners II, at its hard-cap of US$400 million. The fund, which was originally targeting US$300 million in commitments, held a first close at US$100 million in February and attracted investors primarily from Europe, North America and Asia. The fund will focus on special situations including distressed, turnaround and credit opportunities in Asia, with an emphasis on China, India and Indonesia.