Balbec Capital Surpasses $1.7 Billion in New Capital Commitments for Global Credit Strategy

NEW YORK--(BUSINESS WIRE)--Balbec Capital, LP (“Balbec”), an alternative investment manager with over $16 billion in platform assets, today announced the successful final closing of InSolve Global Credit Fund VI (“IGCF VI”), which between the flagship fund and related vehicles, raised over $1.7 billion in equity commitments, making this Balbec's largest fundraise cycle to date. Balbec received strong support from both existing clients and new investor relationships globally, including sovereign wealth, pension funds, insurance companies, consultants, and multi-family offices. Balbec anticipates additional capital commitments to the strategy to be finalized this year.

IGCF VI builds upon Balbec’s 15-year track record of identifying and executing repeatable, sustainable, and scalable investments across the asset-based credit spectrum. The Fund’s diversified portfolio of investments will consist of primarily amortizing financial assets, including residential and commercial mortgage loans, consumer NPLs and restructured payment plans, mortgage servicing rights, and related credit assets with attractive risk-return profiles. Operating in high barrier to entry markets, Balbec leverages its comparative advantages in sourcing, asset management, capital markets and proprietary technology to capitalize on opportunities that drive exceptional results for investors. To date, the Fund has called 51% of capital commitments.

Warren Spector, Chairman of Balbec, said, “The successful closing of our sixth global flagship fund underscores the confidence both new and longstanding investors have in Balbec’s differentiated approach, diligent investment process, best-in-class technology and analytics, and deep counterparty relationships across asset classes. Over the last year, we witnessed substantial demand for Balbec’s asset-based and specialty finance strategies as investors looked to diversify their portfolios. We expect this demand will persist and believe we are well-positioned to continue to meet investors’ allocation needs and to deliver positive results for our clients.”

Peter Troisi, Partner and President of Balbec, added, “Balbec's market opportunity is expanding organically, notwithstanding that we continue to increase our market share in our highly fragmented asset classes. We have already put a significant amount of capital to work across the U.S. and Western Europe since launching the Fund and are eager to continue executing on the substantial pipeline of opportunities we have identified in those regions. We are grateful to our investors for their continued support and confidence.”

Since its founding in 2010, Balbec has deployed over $23 billion globally through its funds and investment vehicles, seeking to deliver consistent, risk-adjusted returns to investors and long-term partners across asset-based credit strategies. The Fund’s predecessor vehicle, IGCF V, closed in 2022 with over $1.5 billion of capital commitments.

About Balbec Capital, LP

Balbec is an SEC-registered alternative investment manager with offices in the United States and Europe. The firm is a direct investor in residential and commercial mortgage loans at all stages of performance, mortgage servicing rights, and select consumer and alternative credit assets. Leveraging its proprietary technology and transaction management platform, Balbec efficiently executes highly granular transactions, enabling the firm to serve a broader range of counterparties and generate returns for investors by applying institutional execution standards to inefficient, underserved or fragmented markets.

Balbec’s funds rank among the largest issuers of U.S. residential mortgage-backed securities (RMBS) through its PRPM shelf. The firm’s investments in agency mortgage servicing rights are sourced via its affiliate, Bungalow Funding.

For more information, please contact ir@balbec.com or visit https://balbec.com/.