Atalaya Capital Management closed its latest direct lending fund, Atalaya Asset Income Fund V, at $1 billion.
The fund closed at its hard cap, exceeding its $900 million target, the company said Monday in a news release.
"We are grateful for our new and long-term investors, who clearly recognize our leadership position in specialty finance," said Ivan Zinn, founding partner and chief investment officer of Atalaya Capital Management, in the release. "We are excited to expand on our track record of identifying meaningful opportunities within consumer and commercial lending, an area that we believe continues to be underserved by traditional capital sources."
As with Atalaya's previous asset income funds, AIF V will primarily originate loans and acquire credit-related assets in the specialty finance sector.
The previous fund in the series, AIF IV, closed on $900 million in commitments in May 2018.
Investors in AIF V include the $67.9 billion Alaska Permanent Fund Corp., Juneau; and the $29.1 billion Texas County & District Retirement System, Austin.
