Waterfall AM Seeks $750M for Asset-backed Credit Fund

Waterfall Asset Management is aiming to raise $750M for its new fund focused on asset-backed credit opportunities.

The New York-based alternative investment management firm filed with the SEC for Waterfall Private Asset-Backed Credit Fund I and companion vehicles Waterfall Private Asset-Backed Credit Fund I (Cayman) and Waterfall Private Asset-Backed Credit Fund I (ERISA). In the documents filed on February 7, the firm disclosed that it expects the sale of interest in the funds will take more than a year, with the minimum investment amount set at $5M.

In previous funds, Waterfall secured investment commitments from Maryland State Retirement & Pension System, New Mexico Educational Retirement Board, Los Angeles County Employees' Retirement Association, San Bernardino County Employee Retirement Association and Texas Municipal Retirement System, according to Dakota data.

Under its asset-backed finance strategies, Waterfall targets specialty finance opportunities in more than 60 sectors. The firm seeks out opportunities in the US, Europe and in Asia, scouting specialized channels including secondary trading and directly-negotiated primary transactions. As of December 2024, the firm's AUM amounted to $13.1B.

Written By: Dakota

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