Causeway seeks $100m for second credit fund
Sydney-based private debt investor Causeway has launched a second credit fund, to buy loans and lend directly to emerging Australian companies.
Sydney-based private debt investor Causeway Asset Management has kicked off a process to raise $100 million for its second credit fund, which will invest in distressed assets and companies with growth potential.
Senior portfolio manager Rob Ranocchia and principal Timothy Davis told Capital Brief Causeway had achieved first close on $4 million from investors for the fund, with indicative interest at $25 million.
They said the fund could reach $100 million but is essentially open ended, and can invest in opportunistic loan buys, or directly lend to or invest in companies in stressed or distressed situations.
Causeway, established in 2003, has three ASX-listed investments in its existing flagship fund and one which will seed its Dynamic Credit Fund, they said, adding that their investment thesis is sector agnostic, with one major exception.
