New York firm Atalaya Capital Management closed its eighth Special Opportunities Fund (ASOF VIII) at its hard cap of $1.8 billion.
Investors in the latest fund include the Florida State Board of Administration ($150 million) and the New Hampshire Retirement System ($50 million).
The opportunistic asset-based strategy dates back to 2006, when Atalaya initially launched an all-weather, opportunistic approach by investing in credits or assets from sellers in need of liquidity and providing credit-oriented capital solutions with a focus on asset-based opportunities. The firm is active in three areas within ASOF: specialty finance, corporate and real estate investments.
This past autumn, Atalaya Capital Management Founding Partner and Chief Investment Officer Ivan Zinn expressed optimism in an exclusive Alternatives Watch interview that the firm’s portfolios that lend to the lenders would continue to perform despite market pundits concerns over consumer debt.
“The current opportunity is as attractive as we have seen in many years. The Atalaya team has built the right relationships and foundation to capitalize on the market volatility and increased premium for ASOF’s capital,” Zinn said in a statement following the recent fund close.
This past year, the $9.5 billion Atalaya has deployed more than $2 billion of capital across 100-plus transactions. These figures bring total capital deployed to over $16 billion across over 600 investments, since inception.
