Balbec Capital closed on its InSolve Global Credit Fund IV, with total commitments of approximately $1.2 billion, exceeding the fund’s $1 billion target and making it Balbec Capital’s largest fund to date. The fund received backing from current Balbec Capital clients and new global institutional investors.
Consistent with the approach of Balbec’s predecessor vehicles, the 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 form of distress. Balbec will leverage its experience and global footprint to selectively invest across geographies and asset types to source the most desirable opportunities while mitigating macro risks. To date, the fund has called 45% of commitments.
“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,” Warren Spector, chairman of Balbec Capital, said. “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.”
“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,” Charles Rusbasan, founding partner and CEO of Balbec Capital, said. “We expect the pipeline of opportunities to remain robust as we look to build upon our track record of successfully investing across market cycles.”
Since inception in 2010, Balbec Capital has invested more than $5.2 billion across more than 300 transactions in 19 countries. Balbec Capital’s predecessor vehicle, InSolve Global Credit Fund III, closed in 2018 with $727 million of capital commitments. 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.
Balbec Capital is a global alternative asset manager with expertise sourcing and investing in bankrupt and insolvent credit.
