NEW YORK--(BUSINESS WIRE)--Sound Point Capital Management, an alternative asset management firm with approximately $21 billion of assets under management, is pleased to announce the successful closing of its first fund dedicated to directly originated corporate loans.
The final close for the firm’s “Strategic Capital Fund” took place in December, bringing total committed capital to approximately $500 million. The Fund primarily invests in proprietary, directly originated, bespoke financings ranging from $25 million to more than $200 million, for private and public companies undergoing periods of transition and turnaround.
The Fund, together with other Sound Point entities, has to date invested over $1 billion in loans originated and structured by Sound Point’s Capital Solutions Group. The Fund is managed by Sound Point portfolio managers Giacomo Picco and Marc Sole.
“We are thankful for the trust and confidence our investors continue to place in our platform and investment team,” Mr. Picco, Portfolio Manager and Sound Point’s Head of Capital Solutions, said. “As traditional banks retreat from this space, we continue to see increased demand from borrowers of all sizes for creative solutions to help with their liquidity needs. Our flexibility to provide borrowers a wide array of structures ranging from bridge facilities to off-balance sheet asset-backed financings allows us to work constructively with sponsors and management teams during various phases of a company’s life-cycle.”
About Sound Point Capital Management, LP
Sound Point is a $21 billion alternative asset management firm founded in 2008 with particular expertise in credit strategies. Based in New York, the firm manages money on behalf of institutions, pensions, foundations, insurance companies, wealth management firms, family offices and high net worth individuals. Sound Point’s strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans; CLOs; long/short credit opportunities; specialty lending; commercial real estate lending; structured products; and distressed credit. For more information, please visit Sound Point’s website at www.soundpointcap.com.