Calamos, Aksia Join Forces for Interval Credit Fund

Private credit manager Aksia and investment firm Calamos Investments have partnered to launch Calamos Aksia Alternative Credit and Income Fund (CAPIX), a closed-end interval fund investing in private credit.

The fund will accept allocations on June 1, 2023.

CAPIX will lean on New York-based Aksia’s expertise and network of private credit partners, including those in direct lending, distressed and special situations, mezzanine financing, real estate credit, real assets credit and specialty finance. Chicago-area Calamos will manage liquid alternatives and fixed income and will provide oversight for CAPIX’s liquidity.

“Institutional investors have long recognized that private credit can deliver significant income and portfolio diversification, with many allocating 5%-10% of their portfolios to the asset class,” said Aksia CEO Jim Vos.

CAPIX will be available for daily purchase by both accredited and non-accredited investors across a range of investment platforms.

Since investors want to access private credit opportunities in a more liquid format, the number of interval credit funds has increased in recent years. With a $100 million initial investment, Nomura Private Capital launched its first interval credit fund in March.