Alpha Wave Global, an investment company with multiple funds across asset classes, and Chimera Capital, an affiliate of Chimera Investment, an Abu Dhabi-based private investment firm, have launched Alpha Wave Private Credit, an open-ended credit fund with initial commitments of USD $2 billion.
The fund will be jointly managed by Chimera Capital and Alpha Wave Global, and aims to develop a portfolio of credit investments reflecting risk-reward characteristics. The fund will invest in private loans as well as other credit instruments on an opportunistic basis. The fund has a global mandate, with a primary focus on the U.S., Canada, U.K., Europe and Australia. The objective is to generate current income for investors, through originating or participating in private, secured senior, floating-rate loans for companies looking for credit services.
“We are excited about the launch of Alpha Wave Private Credit with our partners at Chimera Capital,” Rick Gerson, chairman of Alpha Wave. “We think there is a clear need and large opportunity across cycles for private credit for both investors who desire yield in a low-risk structure and for companies seeking credit solutions. We see this as an important, enduring, and growing area.”