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Laxman Pai, Opalesque Asia: Global asset management firm GoldenTree Asset Management raised over $1.35 billion for its first pure private credit fund, surpassing its target of $800 million to $1 billion, getting a strong foothold in a booming market.
The employee-owned American firm, with $53 billion in assets under management, has already invested $6 billion in private credit through its other fixed-income funds for over the last ten years, but it had never launched a fund fully dedicated to an asset class that has benefited from banks pulling back from lending in recent years to preserve capital.
A media release said that the Fund has a global investor base that includes public and corporate pensions, sovereign funds, foundations, insurance companies, family offices, and RIAs across the US, Europe, Asia, and the Middle East.
GoldenTree's partners and employees have personally made commitments to the Fund of over $50 million, demonstrating the Firm's high conviction in the strategy and strong alignment with investor interests. The Fund features a beneficial structure for investors aimed at providing capital-efficient access to the strategy, it said.
"The Fund has capitalized on multiple themes, already drawing close to 50% of commitments. It has invested in approximately 30 portfolio companies across 10 industries and delivered a net Internal Rate of Return of 22%," the release said.
Leveraging GoldenTree's deep experience in private credit inves...................... To view our full article Click here
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