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Laxman Pai, Opalesque Asia: Balbec Capital, an alternative investment manager, has closed its latest credit fund with more than $1.7bn committed, making it the company's largest fundraise cycle to date.
The Insolve Global Credit Fund VI (IGCF VI), which attracted $200 million more than its predecessor fund in 2022, was supported by both new and existing clients, including sovereign wealth, pension funds, insurance companies, consultants, and multi-family offices.
The global private investment firm with over $16 billion in platform assets said in a media release that IGCF VI builds upon Balbec's 15-year track record of identifying and executing repeatable, sustainable, and scalable investments across the asset-based credit spectrum.
"The Fund's diversified portfolio of investments will consist of primarily amortizing financial assets, including residential and commercial mortgage loans, consumer NPLs and restructured payment plans, mortgage servicing rights, and related credit assets with attractive risk-return profiles," said the release.
Operating in high barrier-to-entry markets, Balbec leverages its comparative advantages in sourcing, asset management, capital markets, and proprietary technology to capitalize on opportunities that drive exceptional results for investors, it added.
To date, the Fund has called 51% of capital commitments.
"The successful closing of our sixth global flagship fund underscores the confidence both new and longstanding inve...................... To view our full article Click here
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