GoldenTree Asset Management – a global asset management firm with over $53 billion in assets under management – announced the closing of its Private Credit Fund. GoldenTree’s Private Credit Fund secured over $1.35 billion in commitments, surpassing the target of $800 million to $1 billion.
The fund has a global investor base that includes public and corporate pensions, sovereign funds, foundations, insurance companies, family offices, and RIAs across the US, Europe, Asia, and the Middle East.
GoldenTree’s partners and employees also personally made commitments of over $50 million to the fund, proving the firm’s high conviction in the strategy and strong alignment with investor interests. The fund also features a beneficial structure for investors aimed at offering capital-efficient access to the strategy.
The fund also capitalized on multiple themes, already drawing nearly 50% of commitments. The fund has invested in about 30 portfolio companies across 10 industries and delivered a net Internal Rate of Return of 22%. Utilizing GoldenTree’s experience in private credit investing (spanning over a decade), the firm offers differentiated solutions to sponsors and issuers. In the last decade, GoldenTree has made over $6 billion of private credit investments across 15+ industries – generating positive returns on 100% of its realized investments.
KEY QUOTES:
“Private credit continues to experience the most innovation across credit asset classes. As a solutions provider, we create unique value for sponsors and issuers and are compensated with premium returns. We remain focused on delivering top quartile returns to our investors – which we have achieved across our strategies for more than two decades.”
– Steve Tananbaum, GoldenTree’s Founder, Managing Partner, and Chief Investment Officer
“GoldenTree’s broad platform, which invests across credit asset classes, provides unique perspective and a competitive advantage in our private credit offering. We can analyze a broader opportunity set, allowing us to focus on opportunities in which we have high conviction and which we believe can achieve differentiated risk-adjusted returns, rather than just executing on a high volume of transactions. Our seasoned investment team, comprising almost 100 professionals with expertise in diverse industries and deep experience in restructurings and structured products, is key to our ability to outperform across market environments.”
– Lee Kruter, Partner and Head of Performing Credit
