Atalaya Capital Management raises $950m

The New York-based asset manager closed its seventh special opportunities fund at a hard cap.

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Atalaya Capital Management held a final closing of Atalaya Special Opportunities Fund VII at $950 million, meeting its $950 million target. The vehicle surpasses capital raised by its predecessor, Atalaya Special Opportunities Fund VI, which closed in March 2016 at $800 million.

Fund VII will focus on opportunistic credit opportunities across a wide variety of sectors including corporate, specialty finance and real estate debt. The fund received commitments from several pensions, foundations, endowments and sovereign wealth funds, including a $50 million commitment from Alaska Permanent Fund and a $100 million commitment from Florida Retirement System Trust Fund.

Founded in 2006, Atalaya Capital Management is an asset manager based in New York that originates and acquires debt throughout the United States. With the closing of Fund VII, the firm now manages $5 billion in assets.