GoldenTree Asset Management, an asset management firm with more than $53 billion in assets under management, closed its private credit fund, which secured commitments of more than $1.35 billion, surpassing its target of $800 million to $1 billion.
The fund has a global investor base that includes public and corporate pensions, sovereign funds, foundations, insurance companies, family offices and RIAs across the U.S., Europe, Asia and the Middle East. GoldenTree’s partners and employees have personally made commitments to the fund of more than $50 million.
The fund has capitalized on multiple themes, already drawing close to 50% of commitments. It has invested in approximately 30 portfolio companies across 10 industries and delivered a net internal rate of return of 22%. Over the last decade, GoldenTree has made more than $6 billion of private credit investments across more than 15 industries, generating positive returns on 100% of its realized investments.
“Private credit continues to experience the most innovation across credit asset classes,” Steve Tananbaum, GoldenTree’s founder, managing partner and chief investment officer, said. “As a solutions provider, we create unique value for sponsors and issuers and are compensated with premium returns. We remain focused on delivering top quartile returns to our investors, which we have achieved across our strategies for more than two decades.”
“GoldenTree’s broad platform, which invests across credit asset classes, provides unique perspective and a competitive advantage in our private credit offering,” Lee Kruter, partner and head of performing credit at GoldenTree, said. “We can analyze a broader opportunity set, allowing us to focus on opportunities in which we have high conviction and which we believe can achieve differentiated risk-adjusted returns, rather than just executing on a high volume of transactions. Our seasoned investment team, comprising almost 100 professionals with expertise in diverse industries and deep experience in restructurings and structured products, is key to our ability to outperform across market environments.”
