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Laxman Pai, Opalesque Asia: Alternative credit firm Evolution Credit Partners Management announced the final close of its opportunistic credit strategy, Evolution Credit Opportunity Fund II (ECO II).
A media release from the Boston-headquartered manager of leveraged finance and trade finance strategies, ECO II has approximately $1.05 billion of investable capital, including investor commitments to the fund, as well as leverage and separately managed accounts.
"The Fund invests opportunistically across Evolution's entire credit platform, which includes both leveraged finance and trade finance strategies, primarily providing customized private capital solutions to companies looking for longer-term acquisition financing and shorter-term working capital needs," the trade finance firm with $3 billion in AUM said.
The Fund took advantage of the tactical opportunities in the second half of 2022 and has invested over $700 million to date, which is inclusive of almost $300 million of contingent credit transactions, the release added. Since its inception in 2018 Evolution has committed approximately $5 billion of capital.
Inclusive of ECO II, Evolution has four commingled fund offerings, all of which are now closed to new investors. Investors in Evolution's funds include pension funds, endowments and foundations, asset managers, and other US and global institutions.
In addition to the close of ECO II, in December 2022, Evolution's inaugural hedge fund pr...................... To view our full article Click here
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