- Balbec Capital, LP, a global alternative asset manager with expertise sourcing and investing in bankrupt and insolvent credit, announced the successful final close of InSolve Global Credit Fund IV, L.P. with total commitments of approximately $1.2 billion
Balbec Capital, LP, a global alternative asset manager with expertise sourcing and investing in bankrupt and insolvent credit, announced the successful final close of InSolve Global Credit Fund IV, L.P. with total commitments of approximately $1.2 billion. This exceeded the fund’s $1 billion target and making it Balbec’s largest fund so far. The new fund received significant backing from current Balbec clients and welcomed a number of new global institutional investors.
“The strong support we have received for our fourth fund is a testament to investors’ confidence in Balbec’s experienced team, differentiated credit platform, and disciplined approach to investing in and managing complex assets. We look forward to continuing to leverage our deep expertise in global bankruptcy regimes and longstanding industry relationships to source attractive opportunities that we believe will deliver strong risk-adjusted returns for our investors,” said Warren Spector, Chairman of Balbec.
The new fund will seek to identify and capitalize on investment opportunities with a focus on a subset of non-performing loans where the borrower or assets are subject to an insolvency proceeding, restructuring, liquidation, or other forms of distress. And Balbec will utilize its extensive experience and global footprint for selectively investing across geographies and asset types to source the most desirable opportunities while mitigating macro risks. So far, the fund has called 45% of commitments.
“We are pleased with the Fund’s portfolio construction and believe we are well-positioned to continue to capture opportunities globally by transacting with speed, certainty, and discretion. We expect the pipeline of opportunities to remain robust as we look to build upon our track record of successfully investing across market cycles,” added Charles Rusbasan, Founding Partner and Chief Executive Officer of Balbec.
Since being founded in 2010, Balbec has invested over $5.2 billion across more than 300 transactions in 19 countries. The predecessor vehicle InSolve Global Credit Fund III closed in 2018 with $727 million of capital commitments. And earlier vehicles in the series InSolve Global Credit Fund II and InSolve Global Credit Fund I, closed at $629 million in 2015 and $143 million in 2012, respectively.
Launched in 2010, Balbec Capital, LP is a global alternative asset manager with approximately $2.4 billion AUM, specializing in acquiring loans or claims that are in bankruptcy, a structured debt settlement plan, or financial restructuring.
