Golden Tree Raises $1.35B for Private Credit Fund

GoldenTree Asset Management, a global asset management firm, raised more than $1.35 billion for its private credit fund, significantly exceeding its initial target.

The firm had aimed to raise between $800 million and $1 billion for the fund, but it exceeded that objective by attracting investors from the public and corporate pension, sovereign fund, foundation, insurance company, family office, and RIA segments. In addition, GoldenTree’s partners and staff have contributed more than $50 million to the fund.

The fund has already received close to 50% of its commitments, investing in over 30 portfolio businesses spanning 10 industries, and has achieved a net IRR of 22%.

GoldenTree, which oversees $53 billion in assets, said it has invested over $6 billion in private credit investments across 15 industries over the last decade, achieving positive returns on all its realized investments.

“As a solutions provider, we create unique value for sponsors and issuers and are compensated with premium returns. We remain focused on delivering top quartile returns to our investors – which we have achieved across our strategies for more than two decades,” said Steve Tananbaum, GoldenTree’s founder, managing partner, and CIO.

GoldenTree invests across high yield bonds, leveraged loans, private credit, distressed debt, structured products, emerging markets, private equity, and credit-themed equities.