Balbec Capital closes sixth credit fund with $1.7bn
Balbec Capital has closed its latest credit fund with more than $1.7bn (£1.37bn) committed, making it the company’s largest fundraise cycle to date.
The Insolve Global Credit Fund VI was supported by both new and existing clients, including sovereign wealth, pension funds, insurance companies, consultants, and multi-family offices.
“The successful closing of our sixth global flagship fund underscores the confidence both new and longstanding investors have in Balbec’s differentiated approach, diligent investment process, best-in-class technology and analytics, and deep counterparty relationships across asset classes,” said Warren Spector, chairman of Balbec.
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“Over the last year, we witnessed substantial demand for Balbec’s asset-based and specialty finance strategies as investors looked to diversify their portfolios.
“We expect this demand will persist and believe we are well-positioned to continue to meet investors’ allocation needs and to deliver positive results for our clients.”
Since it was founded in 2010, Balbec has deployed more than $23bn globally through its funds and investment vehicles, seeking to deliver consistent, risk-adjusted returns to investors and long-term partners across asset-based credit strategies.
The fifth iteration of the fund closed in 2022 with more than $1.5bn in capital commitments.
“Balbec’s market opportunity is expanding organically, notwithstanding that we continue to increase our market share in our highly fragmented asset classes,” said Peter Troisi, partner and president of Balbec.
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“We have already put a significant amount of capital to work across the US and Western Europe since launching the fund and are eager to continue executing on the substantial pipeline of opportunities we have identified in those regions.
“We are grateful to our investors for their continued support and confidence.”
The Insolve Global Credit Fund VI has a portfolio of diversified investments consisting primarily of amortising financial assets, including residential and commercial mortgage loans, consumer NPLs and restructured payment plans, mortgage servicing rights, and related credit assets with attractive risk-return profiles.
Balbec specialises in high barrier to entry markets, where it can leverage its comparative advantages in sourcing, asset management, capital markets and proprietary technology to capitalise on opportunities that drive exceptional results for investors. To date, the fund has called 51 per cent of capital commitments.
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