The $6 billion New York-based private credit specialist Atalaya Capital Management closed its fifth asset income fund at its $1 billion hard cap with assets coming from public and corporate pension plans, sovereign wealth funds, foundations and endowments.
“We are grateful for our new and long-term investors, who clearly recognize our leadership position in specialty finance,” said Ivan Zinn, founding partner and chief investment officer of Atalaya Capital Management. “We are excited to expand our track record of identifying meaningful opportunities within consumer and commercial lending, an area tat we believe continues to be underserved by traditional capital sources.”
Asset Income Fund V’s focus is on specialty finance with a focus on loan origination and credit-related assets in the specialty finance sector. Investments include: consumer finance assets (credit card originations, consumer installment loans, auto loans, Buy Now Pay Later financing); commercial finance assets (SME financing, merchant cash advance and factoring); and select leasing opportunities such as middle-market mission critical equipment and aviation assets.
The previous vintage, AIF IV, was also over subscribed and closed at its hard cap with $900 million in 2018. Since the strategy’s 2012 inception, the team has made more than 135 investments. The strategy was originally launched to complement Atalaya’s existing Special Opportunities Fund strategy.
