Chimera Capital, a wholly subsidiary of Chimera Investments LLC, an Abu Dhabi-based investment firm facilitating investors with unique and innovative investment offerings, and Alpha Wave Global, an investment company that manages a variety of partnerships that focuses on several asset classes, announced on Monday the launch of Alpha Wave Private Credit, an open-ended credit fund, with USD 2 billion of initial commitments.
The perpetual fund, which will be co-operatively managed by Chimera Capital and Alpha Wave Global focuses to advance a diversified portfolio of credit investments reflecting attractive risk-reward features irrespective of the path of interest rates and in the framework of development in the private market for credit solutions. The fund will invest predominantly in private loans, in addition to other credit instruments on a meticulous basis.
Alpha Wave Private Credit will target attractive private credit opportunities worldwide
The fund has a comprehensive ordinance, with a primary emphasis on the US, Canada, EU, UK, and Australia, and will pursue to identify situations and themes where capital deficiencies or distinctive reasons result in attractive investment prospects. The primary objective is to generate current income for investors, through initiating or partaking in private, senior secured, floating rate loans for businesses looking for credit solutions.
Syed Basar Shueb, Chairman of Chimera Capital, stated that the first close of their inaugural credit fund signifies another significant milestone for Chimera, and offers investors access to the private credit markets worldwide.
Collectively with their partners at Alpha Wave Global, it brings the expertise and access required to position the fund for accomplishment and aims to continue performing an effective role in reinforcing Abu Dhabi’s position as a global centre for capital solutions.
Rick Gerson, Chairman of Alpha Wave Global said that the team is excited about the launch of Alpha Wave Private Credit with its partners at Chimera Capital. There is a clear-cut demand and huge prospect across cycles for private credit for both investors who yearn for yield in a low-risk structure and for companies seeking credit solutions.
Alpha Wave Global sees this as a significant, enduring, and growing area, Gerson added.
Seif Fikry, CEO of Chimera Capital, stated that this announcement follows the recent establishment of the Credit Strategies department at Chimera and comes on the back of significant growth across its venture capital, public equity business, as well as their advisory platform.
Fikry added that this fund will enable them to seek to provide investors with differentiated investment opportunities that combine running yield and downside protection, along with upside potential.
By broadening the product offering through this and other planned launches, the company hopes to position itself at the forefront of the evolving regional asset management industry, Fikry added.
About Chimera Capital Limited
Chimera Capital Limited, an Abu Dhabi-based investment firm, offers investors unique access to innovative investment instruments with a primary emphasis on the alternative asset management area.
Chimera Capital Limited leverages its parent company’s wide-ranging experience in private investments, unsurpassed regional access to top-notch service providers and financial intermediaries, and a massive network of high-net-worth individuals, family offices, and private investment firms to consistently deliver above-market returns. Chimera Capital Limited, owned by Chimera Investment LLC, is a private limited firm incorporated and licensed in the ADGM and regulated by the ADGM Financial Services Regulatory Authority (FSRA).
About Alpha Wave Global
Alpha Wave is a global investment company that manages a variety of collaborations that discretely focus on several asset classes and geographies varying from venture and growth to public markets to private credit. Alpha Wave has offices in New York, London, Abu Dhabi, Miami, Tel Aviv, Sydney, Bangalore, and Jakarta.