Balbec launches fourth credit fund

New York-based Balbec Capital announced its fourth global credit fund’s successful final close, which exceeded its fundraising target, as has been the case with a number of other private credit funds this year. InSolve Global Credit Fund IV closed with total commitments of approximately $1.2 billion, making it Balbec’s largest fund to date. The firm received backing from its current clients as well from a number of new global institutional investors. The fund will seek to identify and capitalize on investment opportunities with a focus on a subset of non-performing loans where the borrower or assets are subject to an insolvency proceeding, restructuring, liquidation or other form of distress. Officials said the fund has called 45% of its commitments to date. Similar to the strategy of its predecessor vehicles, the latest fund will leverage Balbec’s global footprint to invest across geographies and asset types in sourcing desirable opportunities while mitigating macro risks. Since Balbec’s 2010 inception it has invested more than $5.2 billion across more than 300 transactions in 19 countries. Overall, the firm currently has $2.4 billion in assets under management. “We are pleased with the fund’s portfolio construction and believe we are well-positioned to continue to capture opportunities globally by transacting with speed, certainty and discretion,” said Charles Rusbasan, founding partner and chief executive officer at Balbec. “We expect the pipeline of opportunities to remain robust as we look to build upon our track record of successfully investing across market cycles.” Previously, the firm’s InSolve Global Credit Fund III, closed in 2018 with $727 million in capital commitments. Earlier vehicles in the series, InSolve Global Credit Fund II and InSolve Global Credit Fund I, closed at $629 million in 2015 and $143 million in 2012, respectively. Overall credit and distressed funds remain in high demand in the current market environment. Alternatives Watch tracked more than $23 billion in credit-oriented product launches in April and roughly $12 billion in fundraising in the space in May in our AW Scorecard.

Balbec launches fourth credit fund

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