Alternative asset manager Atalaya Capital Management has closed its third Asset Income Fund (AIF III) at its USD525 million hard cap, exceeding its USD500 million target.
AIF III held its first close in June 2016. AIF III’s investors are primarily public and corporate pension plans, foundations, and endowments.
In the first six months of the investment period, AIF III has called close to 50 per cent of its capital commitments.
Like previous Atalaya Asset Income Funds, AIF III will primarily originate loans to financial asset and real estate borrowers. Targeted investments include specialty finance rediscount loans against small balance assets such as consumer and commercial credit and/or investments in equipment leases; opportunistic real estate bridge and transitional lending; and select purchases of whole loans and receivables from a variety of small balance consumer and commercial finance companies.
“We are pleased with the strong investor demand for our third asset income fund. Our oversubscribed position reflects Atalaya’s expertise in an asset class that offers a compelling risk-adjusted return, both on an absolute basis and compared to other private credit strategies,” says Ivan Zinn, Atalaya’s founder and chief investment officer.
