NEW YORK--(BUSINESS WIRE)--GoldenTree Asset Management (“GoldenTree”), a global asset management firm with over $47 billion in assets under management, today announced the closing of its Distressed Fund IV.
Distressed Fund IV reached its hard cap with commitments of $3 billion and was oversubscribed. The Fund’s global investor base is complemented by GoldenTree partner, employee and firm commitments of over $100 million alongside the Fund’s investors. Fund IV seeks superior risk-adjusted returns by investing in distressed, stressed and special situation assets. The Fund’s early investments are currently delivering a net Internal Rate of Return (IRR) of over 30%.
GoldenTree’s Distressed Fund III, the predecessor to Fund IV, has delivered a net IRR of 26% through August 31, 2022, invested over $2 billion in capital across more than 40 issuers in 15 different sectors.
“Fund IV’s oversubscription highlights the confidence our clients have in GoldenTree and our strategies amid global uncertainty,” said Steve Tananbaum, Founding Partner & Chief Investment Officer. “We’ve invested over $30 billion in distressed assets since 2000, and our distressed strategies have been a key driver of GoldenTree’s growth over time. The size of our investors’ commitment to our distressed funds has grown significantly since Distressed Fund I in 2010. The $3 billion raised for Fund IV validates our team’s hard work and commitment to clients for over two decades in delivering consistent top quartile returns.”
Ted Lodge, Partner, Global Head of Restructurings & Turnarounds, and a member of GoldenTree’s Distressed Committee, noted that “Our differentiated team allows us to provide leadership in restructuring and turnaround processes and to maximize value by right sizing balance sheets, improving corporate governance, overseeing the execution of turnarounds and facilitating strategic exits. Our results demonstrate the success of our process and confidence in the work we are doing.”
GoldenTree invests across numerous credit asset classes, in sectors such as high yield bonds, leveraged loans, private credit, distressed debt, structured products, emerging markets, private equity and credit-themed equities.
About GoldenTree
GoldenTree is a 100% employee-owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, private credit, distressed debt, structured products, emerging markets, private equity and credit-themed equities. GoldenTree was founded in 2000 by Steve Tananbaum and is one of the largest independent global credit asset managers. GoldenTree manages over $47 billion for institutional investors, including leading public and corporate pensions, endowments, foundations, insurance companies and sovereign wealth funds. GoldenTree has over 270 employees, with offices in New York, West Palm Beach, Charlotte, London, Dublin, Singapore, Sydney and Tokyo. For more information, please visit www.goldentree.com.
