Arena Investors has secured a further $100 million for its credit opportunities fund, Private Debt Investor has learned.
The fund has a broad base of investors, predominantly in North America and Australia and is targeting asset-backed, credit-oriented investments, particularly distressed opportunities. Arena decided to seek additional capital above its original $300 million target due to market dislocation created by the covid-19 crisis.
It is thought the fund has a feeder vehicle for insurance companies to enable them to receive optimised capital treatment, with each receiving an A-rated note equivalent to 85 percent of their investment.
Arena Investors declined to comment.