Chimera Capital, an affiliate of Chimera Investment, an Abu Dhabi-based private investment firm managing a diversified international portfolio of listed and private investments, and Alpha Wave Global, an investment company with multiple funds across asset classes, have launched Alpha Wave Private Credit, an open-ended credit fund, with initial commitments of USD2 billion.
The perpetual fund, which will be jointly managed by Chimera Capital and Alpha Wave Global aims to develop a diversified portfolio of credit investments reflecting attractive risk-reward characteristics irrespective of the path of interest rates and in the context of growth in the private market for credit solutions.
The fund will invest primarily in private loans, as well as other credit instruments on an opportunistic basis. The fund has a global mandate, with a primary focus on the US, Canada, UK, EU, and Australia, and will seek to identify situations and themes where capital shortages or idiosyncratic reasons result in attractive investment prospects.
The primary objective is to generate current income for investors, through originating or participating in private, senior secured, floating rate loans for companies looking for credit solutions.
