Atalaya launches third asset income fund – exclusive

The New York-based firm is raising $500 million for its third asset income fund investing in specialty finance companies.  

Atalaya Capital Management has kicked off fundraising for the Atalaya Asset Income Fund III, according to sources familiar with the firm.

The vehicle is targeting $500 million, double what Atalaya closed its second asset income fund on in 2014. 

Atalaya declined to comment on fundraising. 

The asset income fund invests in loans to specialty finance companies. The strategy involves originating senior asset-based loans and purchasing whole loans from specialty finance companies in the US. The fund series invests in a range of consumer and commercial sectors, according to Atalaya’s website. 

Atalaya is also in the market with its next flagship fund, Atalaya Special Opportunities Fund VI. That vehicle is targeting $750 million and is expected to hold a final close oversubscribed in March, PDI understands. 

New York-based Atalaya focuses on special situations and credit investing through private equity-style funds. The firm targets corporate debt, commercial real estate equity and debt and specialty finance.  

Atalaya was founded in 2006 by Ivan Zinn who previously led HBK’s corporate and real estate loan origination and investing.