New York-based Atalaya Capital has closed its third fund offering which targets special opportunity investments in the small and middle credit markets.
Fund III will continue Fund II’s track record of purchasing illiquid credit assets from banks, the FDIC, commercial finance companies and other financial institutions in search of liquidity.
Fund III will also originate select primary private credit investments.
Despite the difficult fund raising environment and a relatively short marketing period beginning late 2009, Atalaya closed the fund after attracting subscriptions in excess of its self imposed USD250m hard cap.
Atalaya Special Opportunities Fund III ultimately accepted USD250m in commitments which will be invested via a draw down, private equity structure.
Investors are primarily university endowments and foundations. Atalaya raised the capital internally.
“We are pleased to have raised a significant amount of capital from new and existing institutional investors who recognise Atalaya’s ability to source and invest in the special opportunities credit space,” says Ivan Q. Zinn, founding partner and chief investment officer at Atalaya.
