Fundraising

Chimera Capital and Alpha Wave Global team up to launch inaugural private credit fund

Alpha Wave Private Credit has secured $2bn in commitments.

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Fund name: Alpha Wave Private Credit
Stage of fundraising: Fund launched
Amount raised: $2 billion

Abu Dhabi-based Chimera Capital announced Tuesday the launch of its first private credit fund in collaboration with Alpha Wave Global, a global investment firm that invests across all asset classes. The fund, Alpha Wave Private Credit, is an open-ended credit fund and has already secured $2 billion of commitments.

It will focus on private, senior secured and floating rate loans for companies in need of credit solutions. The fund will take a global approach with a focus on the US, Canada, the UK, EU and Australia.

This is not the first time the two firms have collaborated. They have teamed up on previous co-managed funds including Alpha Wave Ventures II, which launched in 2021 and achieved a second close of $10 billion.