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.
Improving investor access to corporate loans
360 Capital head of private credit, Chris Chase, explains how Coronavirus prompted a pivot in the structure of their new fund.