Green Street’s Hedge Fund Alert, a weekly update on fund management intelligence, recently announced that Axonic capital is targeting $500 million for a private credit fund that seeks opportunities in areas poised for a strong recovery from the pandemic.
According to the publication, “the strategies – aviation-related asset-backed securities, residential transition loans and commercial mezzanine real estate loans – have been part of the New York firm’s flagship hedge fund, Axonic Credit Opportunities Master Fund.
Axonic explained to Green Street that the private credit vehicle strategies “can be seen as extensions of those main ideas in residential housing credit, commercial real estate expertise or a focus on aviation. This private credit fun would give you access to our most differentiated strategies, with the additional benefit of them being housed in one vehicle.
The flagship fund was up 9.6% year-to-date through April and the Axonic Private Credit Fund is scheduled to launch by the end of 2021.