Balbec Capital Tops $1.7B with Latest Global Credit Fund

Balbec Capital announced on February 4 the final close of its sixth flagship fund and related vehicles with capital commitments of over $1.7B, marking the firm's largest fundraise cycle to date.

The alternative investment manager said InSolve Global Credit Fund VI and related vehicles secured pledges from existing and new investors, including sovereign wealth, pension funds, insurance companies, consultants, and multi-family offices. Balbec noted that additional capital commitments for the strategy are expected to be finalized within 2025. The fund's predecessor, InSolve Global Credit Fund V, raised $1.5B when it closed in 2022.

According to an amended filing with the SEC, the fund commenced sale on August 10, 2023. As of August 7, 2024, the investment vehicle had raised $753.3M from 209 investors, with RBC Capital Markets and Mercury Capital Advisors assisting with the marketing of the fund in the US, and GenCap Global Advisors and Balbec KPL Korea overseeing its promotion outside of the country.

Balbec said Fund VI is already 51% deployed with a diversified portfolio consisting primarily of amortizing financial assets, including residential and commercial mortgage loans, consumer non-performing loans and restructured payment plans, mortgage servicing rights, and related credit assets. Through various funds and investment vehicles, Balbec has deployed $23B worldwide since its establishment in 2010.

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Written By: Dakota