Private credit firm Altriarch Asset Management announced a $70 million commitment from the State of Wisconsin Investment Board (SWIB). This investment allocates $20 million for Altriarch’s Specialty Finance Strategy, launched in August 2023. The strategy seeks to deploy capital through a network of secured finance operators across the US.
The remaining $50 million is designated seed capital for a forthcoming strategy structured to complement Altriarch’s current capabilities.
Altriarch Asset Management is a private credit firm based in Charleston, South Carolina. And it specializes in asset-based credit solutions for fragmented markets underserved by traditional lenders and provides investors, including institutional investors and family offices, with access to various investment opportunities.
The State of Wisconsin Investment Board (SWIB), which was created in 1951, is an independent state agency responsible for managing the assets of the Wisconsin Retirement System (WRS), the State Investment Fund (SIF), and other state trust funds. And as of June 30, 2024, SWIB managed over $160 billion of total assets, approximately 85% representing WRS assets. SWIB’s management of the WRS trust funds looks to provide a fully funded public pension for over 677,000 current and former employees of state agencies, the university system, school districts, and most local governments.
KEY QUOTES:
“This investment underscores the continued confidence that institutional investors, like SWIB, have in our team and strategies. We are dedicated to delivering what we believe are attractive risk-adjusted returns in the illiquid credit market through disciplined underwriting and strong risk management practices.”
-Altriarch’s Managing Partner and Co-CEO, Danielle Brown
