Investment firm Mavik Capital Management is looking to raise capital for a new distress fund. The New York-based firm seeks to raise $1B to acquire distressed commercial real estate assets, Bloomberg reported. The money will go into a new fund called VS3 and will be invested in a range of assets, including hard assets and commercial mortgage-backed securities. “While stress doesn’t always appear in headline default rates, beneath the surface there is a significant need for capital, restructurings and recapitalizations,” Mavik CEO Vik Uppal told Bloomberg. “That dislocation is creating what we believe is an extremely compelling opportunity set.” The investment firm has raised money...