400 Capital Raises $1.4 Billion For Private Asset-Based Fund

Investment firm 400 Capital Management collected $1.39 billion in commitments from investors for its newest private credit fund, as money managers continue dedicating capital to the expanding universe of private asset-based lending.

The fund, Asset Based Term Fund IV, launched in December 2023 with a target of $1 billion, according to a statement seen by Bloomberg. About $400 million of the capital has already been committed to opportunities, according to Chris Schiavone, the firm’s head of private credit strategies.

It’s the fourth edition of a 400 Capital strategy that seeks to invest in credit assets across public and private ...