400 Capital closes oversubscribed $1.39bn private credit fund

400 Capital Management secured $1.39bn in commitments for its fourth private credit fund, Asset Based Term Fund IV (ABTF IV), surpassing its initial $1bn target. 

The fund, which launched in December 2023, attracted strong institutional investor interest, underscoring confidence in 400CM’s expertise in asset-based credit strategies.

ABTF IV continues the firm’s focus on private credit investments across residential and commercial real estate, consumer finance, and specialty finance in the US and Europe. Investors were particularly drawn to its diversification from traditional direct lending.

Since launching its first Asset Based Term Fund in 2017, 400CM has expanded its presence in structured credit, managing over $7.4bn in assets. The firm, founded in 2008, offers investment opportunities through commingled funds, separately managed accounts, and private credit portfolios.

With the successful close of ABTF IV, 400CM strengthens its position as a key player in alternative credit, capitalizing on cyclical and regulatory shifts across public and private markets.