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NY-BALBEC-CAPITAL

3.8.2022 14:32:08 CEST | Business Wire | Press release

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Balbec Capital Raises Over $1.5 Billion for Fifth Global Credit Fund

Balbec Capital, LP (“Balbec”), a global alternative asset manager with over $11 billion in platform assets, today announced the closing of its fifth global flagship fund, InSolve Global Credit Fund V, L.P. (the “Fund” or “IGCF V”), with total commitments of over $1.5 billion as well as a $100 million expandable co-investment vehicle, making it Balbec’s largest fund to date. The Fund received significant support from a diverse base of existing Balbec clients and new investors globally.

IGCF V builds on Balbec’s long-term track record of successfully sourcing and investing in credit-sensitive financial assets such as residential, commercial, and consumer whole loan portfolios across the performance spectrum, including assets subject to bankruptcy or other structured repayment plans, as well as select alternative credit assets like residential mortgage servicing rights. The Fund seeks to generate consistent, attractive returns with income yield by investing in assets that have a historically low correlation to public markets and taking advantage of Balbec’s extensive experience, nimble approach, and deep counterparty relationships globally. To date, the Fund has called 82% of commitments to capitalize on a substantial global opportunity set.

Warren Spector, Chairman of Balbec, said, “We are pleased to have closed our fifth global flagship fund, exceeding our target, a true testament to investors’ trust in Balbec’s skilled investment team, unique sourcing capability, rigorous due diligence, and disciplined approach to managing complex assets globally. As we seek to strategically scale the Balbec platform, we will continue to employ our repeatable investment process – which has proven resilient to date across market conditions – to deliver attractive returns for our investors.”

Charles Rusbasan, Founding Partner and Chief Executive Officer of Balbec, said, “Since launching the Fund, we have deployed a significant amount of its capital into opportunities that we believe have attractive risk/reward profiles with upside potential, and strong downside protection. We expect our targeted opportunity set and investment pipeline to remain robust for the foreseeable future and are grateful for the support of both our new and longstanding investors.”

Since inception, Balbec has deployed over $14 billion in 22 countries, selectively investing across geographies and asset types to source the most attractive opportunities while mitigating macro risks. The Fund’s predecessor vehicle, IGCF IV, closed in 2020 with $1.2 billion of capital commitments.

About Balbec Capital, LP
Founded in 2010, Balbec Capital, LP is a global alternative asset manager that capitalizes on niche opportunities across the alternative credit spectrum. A pioneer investor in financial assets subject to bankruptcy repayment plans or other modified repayment, over the past decade the firm has grown and diversified its platform by developing related strategies in residential and commercial mortgage loans across all stages of performance, as well as select alternative and consumer credit assets where the Balbec team has a strong competitive advantage due to its global footprint and counterparty relationships. For more information, please contact ir@balbec.com or visit https://balbec.com/ .

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