GoldenTree Asset Management Surpasses $1.35 Billion in Debut Pure Private Credit Fund

GoldenTree Asset Management has triumphantly secured over $1.35 billion for its inaugural pure private credit fund, marking a significant stride into a flourishing market, as per a statement released on Monday. With a substantial $53 billion in assets under management, the firm has strategically invested $6 billion in private credit over the past decade through its other fixed income funds. However, this marks its first foray into a fund entirely dedicated to an asset class that has thrived amidst banks' cautious lending practices. Commencing contributions in 2022, the fund has already amassed nearly half of the targeted capital and reported a robust net return of 22%, as disclosed in the statement. Notably, the fund has extended loans to approximately 30 companies spanning across ten diverse industries, catering primarily to large corporations in the U.S. and Europe with annual EBITDA surpassing $500 million, all while strategically managing risk and maximizing returns.