New York-based Atalaya Capital Management, an alternative investment firm primarily focused on investing in credit opportunities, has closed its fifth special opportunities fund offering.
Atalaya Fund V will seek to build upon the firm’s prior success in opportunistically purchasing illiquid credit assets. Fund V may also invest in specialty finance opportunities and originate select primary private credit investments.
Atalaya initiated fundraising for the new vehicle during the first quarter of 2013 after drawing down over 70 per cent of Fund IV’s USD500m in commitments. The team quickly exceeded its USD500m target, and held a first and final close on 1 August at Fund V’s self-imposed hard-cap of USD575m. The commitments will be invested via a draw down, private equity-structure. Investors are primarily endowments, foundations, and pensions. Atalaya raised all of the capital internally.
“We are pleased that Fund V, like its predecessor, Fund IV, significantly exceeded its target raise, demonstrating the continued attractiveness of the private credit opportunity set to both existing investors and new participants,” says Ivan Q Zinn, Atalaya’s founding partner and chief investment officer. “Atalaya’s ability and willingness to transact at smaller investment sizes continues to provide us with many attractive investment opportunities. We remain committed to this range of the opportunity spectrum, and believe that our disciplined focus will continue to reward our investors.”