Sound Point Capital Management, a global alternative credit manager with more than $44 billion in assets under management, has announced the first close of Strategic Capital Fund III (SCF III) with $1.1 billion in capital commitments, exceeding both its first and final close targets of $500 million and $1 billion, respectively. Sound Point is targeting a final close of SCF III by year-end 2025 with a hard cap of $1.5 billion.
To date, SCF III has received commitments from a diverse range of sophisticated institutional investors, including insurance companies, public and private pension funds, asset managers and family offices based across North and Latin America, Europe and Australia. Notably, more than 50 percent of first close commitments came from insurance companies. Additionally, the fund received a re-up rate of 100 percent from institutional investors in its predecessor, Strategic Capital Fund II (SCF II), with several investors significantly upsizing their commitments
