The TCW Group has launched the TCW Private Asset Income Fund, a private asset-backed finance interval fund, with over $450m (roughly £333m) in subscription commitments.

This includes an anchor commitment from Apollo S3 Credit Solutions.

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The fund aims to provide exposure to asset-backed finance opportunities to a range of investor types, and will focus on private lending opportunities that power the real economy.

To manage liquidity, approximately 20 per cent of the fund will be invested in attractive liquid structured products.

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“The TCW Private Asset Income Fund delivers private market access to wealth investors supported by TCW’s multi-decade experience record investing across the public and private credit spectrum and deep expertise in securitised assets,” said Dylan Ross, co-portfolio manager of the fund.

The fund will also be run by co-portfolio managers Max Scherr and Peter Van Gelderen.

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