Chimera Capital and Alpha Wave Global Launch a Credit Fund with Commitments of $2 Billion

Posted on 11/07/2022

Chimera Capital Limited is an affiliate of Chimera Investment LLC, an Abu Dhabi-based private investment firm managing a diversified international portfolio of listed and private investments. Chimera Capital is part of a business empire overseen by Sheikh Tahnoon Bin Zayed. Sheikh Tahnoon’s investment interests range from Royal Group, the parent company of Chimera Capital, to Abu Dhabi Developmental Holding Company (ADQ), Group 42 and First Abu Dhabi Bank.

Alpha Wave Global (formerly Falcon Edge Capital, LP – rebranded 2021) is an investment company with multiple funds across asset classes.

Alpha Wave Private Credit was launched and it is an open-ended credit fund, with initial commitments of US$ 2 billion. The perpetual fund, which will be jointly managed by Chimera Capital and Alpha Wave Global, aims to develop a diversified portfolio of credit investments. The fund will invest primarily in private loans, as well as other credit instruments on an opportunistic basis. The fund has a global mandate, with a primary focus on the U.S., Canada, U.K., European Union, and Australia, and will seek to identify situations and themes where capital shortages or idiosyncratic reasons result in attractive investment prospects. The primary objective is to generate current income for investors, through originating or participating in private, senior secured, floating rate loans for companies looking for credit solutions. Alpha Wave will target loans between US$ 50 million to US$ 250 million in size.

Chimera Capital and Alpha Wave Global already co-manage a US$ 10 billion investment fund that also targets private companies.

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