Atalaya Capital Management, an alternative asset manager focused on private credit and special situations investments, has closed its seventh Special Opportunities Fund (ASOF VII) at its USD950 million hard-cap.
ASOF VII’s investors are primarily public pensions, corporate pension plans, sovereign wealth funds, and foundations & endowments.
Since the inception of its investment period, ASOF VII has closed 17 investments and called ~28 per cent of its capital commitments. Atalaya attributes the velocity of capital deployment to the Firm’s deep bench of repeat counterparty and joint venture relationships and long-standing industry experience. This initial activity demonstrates continued momentum from ASOF VI, which was able to invest ~USD1.4 billion on USD800 million in capital commitments due to substantial recycling.
Like previous Atalaya Special Opportunities Funds, ASOF VII invests primarily by opportunistically purchasing credit or assets from sellers in need of liquidity or providing credit-oriented capital solutions to underserved or credit-constrained borrowers. The ASOF strategy invests in a range of performing to non-performing assets across specialty finance, real estate, and corporate credit.
“We believe ASOF VII is well positioned to capitalise on Atalaya’s long history sourcing and executing across the opportunistic credit landscape. We are encouraged by our early investment activity in ASOF VII and expect to take advantage of market dislocations that might potentially unfold across the credit universe with a particular focus on those areas where we have developed expertise and servicing capabilities,” says Ivan Zinn, Atalaya’s Founder and Chief Investment Officer.
