Akin Advised GoldenTree In $1.35 Billion Private Credit Fund
Akin Advised GoldenTree In $1.35 Billion Private Credit Fund
Akin advised GoldenTree Asset Management, a global asset management firm with over $53 billion in assets under management, in the closing of its Private Credit Fund with commitments of more than $1.35 billion, surpassing its target of $800 million to $1 billion.
GoldenTree Asset Management (GoldenTree), known for its prowess in the investment realm, proudly announced the closure of its Private Credit Fund. With commitments exceeding $1.35 billion, the fund soared past its initial target range of $800 million to $1 billion. This resounding success underscores the confidence and trust placed in GoldenTree by a diverse array of investors.
The Private Credit Fund boasts a global investor base, comprising public and corporate pensions, sovereign funds, foundations, insurance companies, family offices, and registered investment advisors across the United States, Europe, Asia, and the Middle East. Notably, GoldenTree’s partners and employees personally committed over $50 million to the fund, showcasing the firm's unwavering belief in the strategy and alignment with investor interests.
Structured to offer capital-efficient access to the strategy, the Fund features a beneficial structure aimed at maximizing investor returns. Leveraging GoldenTree’s extensive experience in private credit investing spanning more than a decade, the firm delivers differentiated solutions to sponsors and issuers. With investments in approximately 30 portfolio companies across 10 industries, the Fund has already capitalized on multiple themes, drawing close to 50% of commitments. Impressively, it has achieved a net Internal Rate of Return of 22%.
GoldenTree, an employee-owned global asset management firm, specializes in opportunities across the credit universe, including high yield bonds, leveraged loans, private credit, distressed debt, structured products, emerging markets, private equity, and credit-themed equities. Founded in 2000 by Steven Tananbaum, GoldenTree stands as one of the largest independent global credit asset managers.
The adept legal guidance behind this achievement was provided by Akin's seasoned team, led by investment management partner John Hamilton and tax partner Ryan Dahan. The team also included tax partner Joshua R. Williams, Counsel Jake Rodriguez, Brian Rafferty, and Ekaterina Lyashenko, along with associates Tamar Stein, Shannon Ryan, and Tim Higgins. Their expertise and dedication played a pivotal role in navigating the complexities of this transaction, contributing to its success.
