King Street Capital Management, a global alternative investment firm that manages more than $28 billion in assets, and Lumyna Investments, an alternative investments platform that offers investment solutions spanning public and private markets, announced the launch of the Lumyna-King Street Credit Opportunities Fund, an evergreen private credit strategy. King Street will serve as the investment manager, with Lumyna serving as manufacturer and distributor for the fund.
Reportedly, the fund has an opportunistic investment mandate that may provide access beyond traditional private credit strategies by allocating across corporate and asset-based lending, dislocated public credit opportunities and select distressed situations. The fund stated that this approach is designed to complement traditional private credit portfolios by offering exposure to a broader range of credit opportunities.
According to King Street and Lumyna, the objective of the fund is to offer exposure to a diversified portfolio of investments with a focus on current income and capital appreciation. The fund is actively managed and is not managed in reference to a benchmark.
“We are proud to introduce a strategy that leverages our decades of experience identifying compelling opportunities across credit markets to address what we believe is a significant gap in the market for evergreen private credit solutions,” said Domenico Lia, partner at King Street. “As investors increasingly seek private credit for diversification and attractive risk-adjusted returns, our strategy is intended to provide a sophisticated and dynamic solution.”
“The partnership with King Street marks an acceleration in Lumyna’s move into the evergreen private markets space. Driven by investor demand, our expanding private markets offering builds on and complements the legacy alternative UCITS platform that has led Lumyna to its dominant market position,” added Philippe Lopategui, chief executive officer of Lumyna, which is headquartered in London.
Paul Holmes, head of distribution at Lumyna, noted, “Investor demand for evergreen private market solutions continues to grow rapidly. The Lumyna-King Street Credit Opportunities Fund meets this demand with a differentiated approach to many of the credit strategies currently available by providing access to a broader universe of private credit opportunities. Partnering with King Street, a manager renowned for its expertise across credit cycles, underscores our commitment to delivering exceptional and innovative products to our investors.”
Click here to visit the AltsWire directory page.
Read the full article here
