NEW YORK--(EON: Enhanced Online News)--Atalaya Capital Management, an alternative asset manager, announced today that it has closed its third Asset Income Fund (“AIF III”) at its $525 million hard-cap, exceeding its $500 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.
“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”
In the first six months of the investment period, AIF III has called close to 50% of its capital commitments. Atalaya attributes the relatively high velocity of capital deployment to the Firm’s deep pipeline of existing counterparty relationships and long-standing industry experience, as well as a robust opportunity set in specialty finance.
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,” said Ivan Zinn, Atalaya’s Founder and Chief Investment Officer.
About Atalaya Capital Management
Atalaya is a privately held, SEC-registered, alternative investment advisory firm. Atalaya focuses on making credit and special situation investments in three principal asset classes – real estate, corporate and specialty finance. Atalaya manages two primary strategies, the absolute return focused, Special Opportunities Funds, and the current income focused, Asset Income Funds. Founded in 2006, Atalaya is headquartered in New York City and has in excess of $2 billion in assets under management.