The oversubscribed rated structure is split evenly between US and Asian private-market strategies.
CEO Michael Arougheti expects more institutional credit portfolios to come to market over the next two years as investors reposition their holdings.
The firm's flagship Cox Retail Secondaries Fund I is offering to purchase up to $2.5 million of Variant Alternative Income Fund shares at a 40% discount to October 26 NAV.
The GP-led deal included senior secured loans to more than 60 US lower-middle-market companies from two Tree Line direct lending funds.
Ghost Tree is a California-based private credit investment firm providing senior secured, collateral-focused financing for lower middle-market companies.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
The participants plan to expand the range of transferable private credit assets and improve verification as tokenized secondary markets develop.
The sovereign wealth fund has reportedly tapped Evercore to assist in trimming its maturing portfolio.
The National Pension Service of Korea and Townsend Holdings have also increased their ownership in the Australian alternative asset manager.
Founded in 2002, CRC is a private credit manager that invests in bank capital strategies, mainly SRT transactions, that deliver non-dilutive capital solutions to European banks.
