|
Laxman Pai, Opalesque Asia: Credit and real estate investment major Angelo Gordon & Co has launched AG Twin Brook Capital Income Fund (TCAP) with more than $800m in total assets.
The $52bn alternative investment firm said in a press release that TCAP is a non-traded business development company (BDC) that has approximately $530 million in equity and over $1 billion in total investment commitments at launch.
Effective January 1, TCAP completed its merger with AGTB Private BDC, with TCAP as the surviving company; AGTB Private BDC, TCAP's predecessor vehicle, was an affiliated, privately offered BDC with the same investment manager and investment objective as TCAP, the release noted.
"TCAP seeks to generate attractive, consistent total returns - predominantly in the form of current income and, to a lesser extent, capital appreciation - by targeting investment opportunities with favorable risk-adjusted returns," it claimed.
The Fund targets a portfolio principally comprised of floating rate, senior secured loans to borrowers in a wide variety of geographies and industries.
According to the release, TCAP invests predominantly in loans that are at the top of the capital structure, backed by collateral, and have strong lender protections in place, which we believe reduces the risk of principal loss and delivers more stable returns over time.
"In line with Angelo Gordon's differentiated middle market direct lending strategy and informed by our te...................... To view our full article Click here
|
RSS
