Steve Tananbaum is making his biggest bet to date on one of the hottest corners of Wall Street: private credit.
GoldenTree Asset Management, the credit investment firm he founded over two decades ago, is looking to raise as much as $1.5 billion for its first fund dedicated to providing loans directly to companies, according to people with knowledge of the matter, who asked not to be identified because they’re not authorized to speak publicly.
The fund is part of a bigger push across GoldenTree to source opportunities away from the syndicated loan and high-yield bond markets that have been traditionally dominated by Wall Street banks. The strategy has become increasingly popular among money managers as a way to capture higher yields and take advantage of dislocations in public markets.
Read more: BNN Bloomberg
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.