Angel Island Capital Closes $440 Million Credit Opportunities Fund

Largest GP-led Credit Transaction To-Date

SAN FRANCISCO--()--Angel Island Capital (“AIC”), a San Francisco-based multi-strategy credit investment advisor and portfolio company of Golden Gate Capital, today announced the successful close of approximately $440 million in commitments to AIC Opportunities Fund II, L.P. (“AIC COP II” or the “Fund”). The Fund is AIC’s inaugural third-party capital investment vehicle and backed by a group of institutional investors.

Founded in 2008 and led by CEO Dev Gopalan, AIC launched AIC COP II as part of the firm’s Credit Opportunities Strategy, which focuses on investments in performing debt of middle-market companies in industries where AIC has domain expertise. The Fund was seeded in 2019 with a diversified portfolio of private credit assets with an attractive yield and total return profile. This differentiated fund structure was designed to provide unmatched portfolio visibility during the fundraising process, enabling AIC to attract primary and secondary investors on an accelerated basis. The Fund also includes capacity for new credit investments and was structured with a focused investment period and term.

Lynette Vanderwarker, Chief Strategy Officer at AIC, said, “We are at an exciting inflection point for the firm, and the expansion of our Credit Opportunities Strategy is representative of myriad opportunities we are seeing in the private debt market. We appreciate the support from a high-caliber group of investors, and we look forward to continuing to build strategic partnerships with alternative credit solutions for our sophisticated institutional investors.”

Gerald Cooper, Partner at Campbell Lutyens, said, "This large and innovative transaction with a top quality sponsor represents an important milestone for credit secondaries, and we expect to see further GPs of Angel Island’s stature benefit from the secondary market to accelerate capital raises and expand asset management platforms.”

Campbell Lutyens acted as exclusive financial advisor to AIC in the U.S. and Europe.

About Angel Island Capital

Angel Island Capital (AIC) is a multi-strategy credit boutique based in San Francisco that was established in 2008 as a specialty finance portfolio company of Golden Gate Capital to capitalize on the market dislocation of the global financial crisis. AIC, through its investment advisor affiliate Angel Island Capital Management, LLC, manages approximately $3.7 billion in assets across a range of credit strategies. AIC seeks to deliver innovative credit solutions across the capital structure designed to meet the distinct needs of both investors and issuers through corporate debt investments in industries where AIC has domain expertise that are highly complementary to Golden Gate Capital’s private equity practice. For more information, visit www.aicap.com.

About Campbell Lutyens

Founded in 1988, Campbell Lutyens is a global and independent private capital advisor, focused on fund placement and secondary advisory services. Its fund placement practice advises and raises capital globally for private equity, infrastructure and private credit managers. Its secondary transaction practice advises institutional and other investors on the sale or restructuring of portfolios of funds or direct investments within the private equity and infrastructure classes. It also advises managers on GP-led liquidity and fund restructuring transactions. The firm has a team of more than 160 operating from offices in London, New York, Hong Kong, Singapore, Chicago, Los Angeles and Charlotte. Campbell Lutyens is consistently recognised as one of the leading fund placement and secondaries advisors globally. For more information, visit www.campbell-lutyens.com.

Contacts

Angel Island Capital:
Sard Verbinnen & Co
David Isaacs/Tori Goodell
415-618-8750/212-687-8080
GoldenGate-SVC@SARDVERB.com

Campbell Lutyens:
Aarti Iyer, Head of Communications
+44 (0)20 7439 7191
aiyer@campbell-lutyens.com

Contacts

Angel Island Capital:
Sard Verbinnen & Co
David Isaacs/Tori Goodell
415-618-8750/212-687-8080
GoldenGate-SVC@SARDVERB.com

Campbell Lutyens:
Aarti Iyer, Head of Communications
+44 (0)20 7439 7191
aiyer@campbell-lutyens.com