Bank risk-sharing investment specialist Chorus shatters Fund IV goal with $1.4bn final close

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Alternative credit manager Chorus Capital has soared past its Fund IV target to haul in $1.4bn for one of the largest private credit funds raised in Europe since the start of the Covid-19 crisis.

Chorus, which specialises in risk-sharing transactions with banks, easily beat its initial $1bn goal for Chorus Capital Credit Fund IV to seal its largest commingled investment vehicle to date.

The firm took just over a year to raise Fund IV, with about 80% of the capital raised since the start of the pandemic.

New investors represented about 70% of Fund IV’s capital commitments, the firm added.

Chorus said Fund IV was already more than 60% invested. The vehicle looks to provide banks with capital relief through a hedge against losses on their core corporate loan portfolios.

Firm founder and CEO Gilles Marchesin said, “We are truly grateful for the support of our investors who have helped us significantly exceed our fundraising target in a relatively short period of time, against a challenging macro-economic backdrop.

“Ultimately, this success highlights investors’ appetite for our investment strategy. We are also looking forward to further developing our partnerships with banks across Europe and around the world.

“As economies emerge from the global pandemic, banks must ensure that they manage their capital efficiently for corporate clients and shareholders alike.”

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