360 Capital Credit Income Fund

360 Capital Group has launched a new credit fund - the 360 Capital Credit Income Fund - that will invest in private credit opportunities in Australia and New Zealand.

The fund aims to invest in a portfolio of Australian and New Zealand corporate loan assets through the following loan strategies: senior secured loans (target 85 per cent); subordinated and mezzanine loans (target 10 per cent); and enhanced return strategy (target 5 per cent). It is seeking to raise between $150 to $200 million in its initial offer of stapled units (open until 13 September 2020) and will offer initial investors a guaranteed return of 2.5 per cent annualised for the first year.

The fund is targeting a return of 4 per cent per annum above the RBA Cash Rate (net of fees and costs) and will be distributed by Cambridge Investment Partners.