Ramirez AM Acquires $500M PC Strategy Team, Funds from Avenue Capital

Ramirez Asset Management announced that it has acquired the private credit opportunities strategy team their $500M in managed assets across five existing investment funds from hedge fund Avenue Group in a transaction that closed on October 1.

The acquired team is led by William Maier, Patric Lager, and Frank Madden, who have joined RAM as senior managing directors. Maier will oversee the new group, supported by Lager and Madden. Prior to joining RAM, Maier and Lager spent eight years at Avenue, leading investment activities for Avenue Performing Loans Strategy.

The firm said it expects the group to launch a new fund this year, targeting $300M in equity capital and aiming for a mid-year close. The fund will primarily invest in syndicated and mid-cap club-sponsored credits, with a primary focus on the US market and potential investments in Europe. In their new roles, the group is expected to leverage its relationships with private equity firms and collaborate with financial institutions to identify and source investment opportunities. The team currently manages a portfolio of five funds, four of which are in the distribution phase and one in the investment phase.

Written By: Dakota

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Ramirez AM Acquires $500M PC Strategy Team, Funds from Avenue Capital

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