400 Capital Management has held a close for its latest private credit fund, Asset Based Term Fund IV (ABTF IV).
The fund, which launched in December 2023, was significantly oversubscribed, closing with a total of $1.39 billion of committed capital versus the $1 billion initial target.
ABTF IV drew strong support from institutional investors attracted to the firm’s track record and expertise investing across asset-based private credit strategies, with particular attention from investors looking for diversification from direct lending.
The Asset Based Term Funds were launched in 2017 with the goal to invest in unique, idiosyncratic credit opportunities driven by cyclical and regulatory catalysts across public and private credit markets in the United States and Europe, primarily in the residential real estate, commercial real estate, consumer finance and specialty finance markets. ABTF IV follows the firm's previous three funds launched sequentially in 2017, 2019
