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Laxman Pai, Opalesque Asia:

Alternative credit asset manager specializing in asset-based credit strategies 400 Capital Management (400CM) closed its fourth private credit fund focused on asset-based finance with $1.39 billion in commitments.

Asset Based Term Fund IV (ABTF IV), which is part of a fund series that was established in 2017, was significantly oversubscribed, closing with a total of $1.39 billion of committed capital versus the $1 billion initial target, said a press release from the alternative asset manager.

ABTF IV drew strong support from institutional investors attracted to the firm's demonstrated track record and expertise in investing across asset-based private credit strategies, with particular attention from investors looking for diversification from direct lending, revealing the alternative credit asset manager specializing in asset-based credit strategies with over $7.4 billion of assets under management.

"We were thrilled with the investor interest for ABTF IV, which is a testament to our longstanding performance in asset-based credit and the diversification benefits investors continue to recognize," said Chris Hentemann, Managing Partner and Chief Investment Officer at 400CM.

"As the shifting regulatory environment and rapidly evolving economic landscape continues to drive new opportunities and market dislocations, we continue to exercise the strength of our platform and investment expertise that delivers value to investors seeking stro......................

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