LibreMax Capital, an asset management firm specializing in securitized products and asset-backed finance, launched the LibreMax Asset-Backed Income Fund, its first interval fund that provides investors with access to private asset-backed finance (ABF) and traded structured credit opportunities.
LMIFX seeks to generate attractive risk-adjusted returns and current income through a portfolio of asset-backed credit investments that finance the Main Street economy, including the everyday consumer, residential housing and commercial receivables. Structured as a registered interval fund, LMIFX offers daily subscriptions at low investment minimums, quarterly distributions and quarterly liquidity through share repurchases. The fund launched on May 1, 2026, with $285 million of capital, anchored by three institutional investors including a large Midwest public pension, a U.S. sovereign wealth fund and a global multi-family office.
The fund is positioned to capitalize on several structural tailwinds in asset-backed markets, including the continued retrenchment of traditional bank lending, resilient consumer and housing fundamentals, and a less crowded competitive landscape relative to corporate direct lending. The strategy emphasizes secured, diversified investments backed by contractual cash flows or tangible assets, with underwriting designed to deliver returns with lessor correlation to broader credit markets.
“Private ABF offers what we believe is a compelling alternative to traditional private corporate credit, with exposure tied more directly to Main Street assets across the U.S. consumer and housing markets,” Greg Lippmann, founder and chief investment officer of LibreMax, said. “We believe the fundamentals in asset-backed lending are particularly attractive today, supported by amortizing loan pools that provide tangible collateral, diversify borrower risk and reduce refinancing exposure. With limited capital formation in the ABF space and a conservative regulatory backdrop, we see a highly investor-friendly environment defined by stronger credit terms and enhanced yield potential. We value the support from leading institutions, which reflects both the strength of the opportunity set in ABF and LibreMax’s ability to identify and execute differentiated opportunities for our clients.”
