Abu Dhabi Investment Authority, Abu Dhabi, committed an undisclosed amount to Polus Capital Management’s special situations strategy.
With the commitment — made through a wholly owned subsidiary of ADIA — the strategy has about $5 billion of assets under management, according to a news release.
The strategy focuses on secondary investments in bonds and loans as part of opportunistic, stressed or distressed situations.
The firm has been actively raising capital since the start of the year, raising close to $1 billion from sources including ADIA, a person familiar said.
The commitment from the sovereign wealth fund, which has an estimated $993 billion in assets according to the Sovereign Wealth Fund Institute, is “meaningful,” the person added.
“Polus is one of the leading alternative credit managers in Europe with a large, experienced team, a differentiated strategy and a strong track record,” Hamad Shahwan Aldhaheri, executive director of ADIA’s private equities department, said in the release.
“We look forward to capitalising on a growing market opportunity through our capital commitment in Polus, which has built deep expertise in providing bespoke, innovative solutions in a range of situations."
Polus has about $11 billion in assets under management and invests across three strategies: leveraged credit, special situations, and structured credit.
An ADIA spokesperson declined to comment.
