New York-based Atalaya Capital Management LP, an alternative investment firm primarily focused on investing in credit opportunities, has closed its fifth special opportunities fund offering to a new and existing primarily institutional investor base. Atalaya Fund V will seek to build upon the firm’s prior success in opportunistically purchasing illiquid credit assets. Fund V may also invest in specialty finance opportunities and originate select primary private credit investments.
Atalaya initiated fundraising for the new vehicle during the first quarter of 2013 after drawing down over 70% of Fund IV’s $500 million in commitments. The team quickly exceeded its $500 million target, and held a first and final close on August 1st at Fund V’s self-imposed hard-cap of $575 million. The commitments will be invested via a draw down, private equity-structure. Investors are primarily endowments, foundations, and pensions. Atalaya raised all of the capital internally.
“We are pleased that Fund V, like its predecessor, Fund IV, significantly exceeded its target raise, demonstrating the continued attractiveness of the private credit opportunity set to both existing investors and new participants,” said Ivan Q. Zinn, Atalaya’s Founding Partner & Chief Investment Officer. “Atalaya’s ability and willingness to transact at smaller investment sizes continues to provide us with many attractive investment opportunities. We remain committed to this range of the opportunity spectrum, and believe that our disciplined focus will continue to reward our investors.”
About Atalaya Capital Management
Founded in 2006, the Firm manages capital for a client base of predominantly institutional investors. Since inception, Atalaya has invested approximately $2 billion through two strategies: the opportunistic purchase of loans and credit assets, and proprietary credit originations, including a wide variety of financings. Headquartered in New York, the firm employs 30 professionals with investment, legal, accounting, compliance, and investor relations experience and backgrounds.
Atalaya Capital was awarded Institutional Investor magazine’s Hybrid Hedge Fund of the Year in 2013, a category designed to encompass funds with a hedge fund/private equity hybrid model. Per Institutional Investor Magazine, winners were selected pursuant to a multiple criterion analysis, including returns, risk management, investment discipline and selection, portfolio management, performance track record, stability of investment team, investor relations and back-office infrastructure. Award recipients were chosen from a field of five finalists following an open call for nominees.