AllianceBernstein, a global investment management firm, launched the AB CarVal Credit Opportunities Fund (ABAYX), an unlisted, closed-end interval fund.
John Withrow, principal of AB CarVal, and Roger Newkirk, managing director of AB CarVal, will oversee day-to-day investment decisions, supported by AB CarVal managing principals James Ganley, Jody Gunderson and Lucas Detor.
“Given the continued evolution in credit markets, we believe this strategy offers unique diversification through a broader set of global investment opportunities,” Matthew Bass, head of private alternatives for AB, said. “The AB CarVal Credit Opportunities Fund represents an important addition to AB’s ultimate goal of helping clients navigate the many complexities of the current market environment through AB CarVal’s global sourcing, origination capabilities and innovative vehicles.”
The fund invests in a mix of public and private credit across the U.S. and Europe including aircraft leasing, specialty finance and energy transition investments.
“This marks another milestone in expanding our private markets platform, which represents more than $64 billion in assets,” Onur Erzan, head of global client group and head of private wealth for AB, said. “Today’s announcement illustrates the firm’s commitment to our expansive evergreen solutions for our global clients. Historically, this strategy has been limited to only institutional clients; that changes today with this vehicle as it is now available to individual investors with low minimums, providing easy access to a differentiated diversified credit solution.”
