Bloomberg Law
May 5, 2021, 12:00 PM

Balbec Raises $560 Million for New Distressed Consumer Loan Fund

Claire Boston
Claire Boston
Bloomberg News

Balbec Capital, an alternative investment manager founded by Bear Stearns alumni, raised more than $560 million in its initial fundraising push for its fifth flagship fund, according to a person with knowledge of the matter.

The InSolve Global Credit Fund V is on track to become the asset manager’s largest, exceeding the $1.2 billion raised for Balbec’s fourth fund last year, the person said. The fifth fund will invest in non-performing consumer loans like mortgages and other debts of individuals going through Chapter 13 bankruptcy or equivalent global proceedings. Chapter 13 bankruptcy filers typically have regular incomes and develop ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.