Evolution Credit Partners Hauls $1B-Plus for Sophomore Fund

Evolution Credit Partners, a Boston-based alternative credit firm that manages about $3 billion across various leverage and trade finance strategies, raised over $1 billion for its second opportunistic credit strategy – Evolution Credit Opportunity Fund II.

It will provide customized private capital solutions to both companies seeking longer-term financing for acquisitions and shorter-term working capital needs.

The Fund took advantage of the tactical opportunities in the second half of 2022 and has invested over $700 million to date, which includes nearly $300 million of contingent credit transactions.

Evolution now has four commingled fund offerings, including its latest fund, which are closed to new investors. Since its inception in April 2018, when it was spun out from Harvard Management Company, the firm has committed roughly $5 billion of capital.

In addition to the latest fund, Evolution’s inaugural hedge fund product launched last December, Evolution Credit Partners Trade Finance Fund, L.P., closed on its initial target of approximately $100 million and is currently “soft” closed to new investors.