Sound Point Capital Management, an alternative credit manager, has partnered with CAIS, an alternative investment platform, to expand its access to private credit strategies through CAIS’s wealth management channel. 

As part of this collaboration, Sound Point will join the CAIS platform, enabling over 2,000 wealth management firms and over 62,000 financial advisors to gain access to a “curated” suite of alternative investment solutions, the firm said. 

The partnership comes as financial advisors are turning to private market options for their clients. About 89% of advisors are currently allocated to private debt, and 91% of advisors plan to increase their allocations to alternatives over the next two years, according to a recent CAIS-Mercer survey. 

Recently, Sound Point Capital Management raised $1.1 billion in funding for the closing of Strategic Capital Fund III, exceeding its first and final targeted goals of $500 million and $1 billion, respectively. Sound Point is targeting a final close of SCF III by the end of the year, with a hard cap of $1.5 billion. 

Additionally, Sound Point Capital Management invested $150 million in Alleviate Financial Solutions, a fintech platform, which will be used to scale operations, bolster product innovation, and expand Alleviate’s consumer engagement nationwide. 

New York City-based Sound Point Capital Management, which was founded in 2008, manages over $45 billion in assets under management, the firm said.