Aksia and Calamos Investments have joined forces to launch the Calamos Aksia Alternative Credit and Income Fund (CAPIX), a closed-end interval fund providing all investors with access to the broad spectrum of private credit investments.
The fund will accept allocations on June 1. CAPIX will lean on New York-based Aksia’s expertise and network of private credit sourcing partners as the New York firm has provided institutional investors with advice across the credit spectrum including direct lending, distressed and special situations, mezzanine financing, real estate credit, real assets credit and specialty finance. Chicago-area investment firm Calamos will manage liquid alternatives and fixed income and will provide oversight for CAPIX’s liquidity.
“Institutional investors have long recognized that private credit can deliver significant income and portfolio diversification, with many allocating 5%-10% of their portfolios to the asset class,” said Aksia CEO Jim Vos. “With Calamos, we found a great partner with tremendous experience and capability to both reach this broader investor base and manage the liquid allocation effectively. This is a particularly exciting time to launch with market dynamics presenting an opportune time to deploy fresh capital into newly originated private credit investments.”
“Calamos has been a leader in providing individual investors access to alternative investments for more than four decades, so the concept of enabling access for retail investors to private credit is in our DNA,” said John Koudounis, President and CEO of Calamos. “Private credit, however, is a highly specialized asset class that demands investment excellence and expertise. That’s why I’m so pleased to be teaming up with Aksia, who has been building institutional private credit portfolios for years.”
The number of interval credit funds has been picking up in recent years as individual investors are interested in accessing private credit opportunities in a more liquid format. Nomura Private Capital launched its inaugural interval credit fund in March with $100 million.
The Calamos Aksia Alternative Credit and Income Fund (CAPIX) will be available for daily purchase by both accredited and non-accredited investors across a range of investment platforms, officials said.