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
