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Bridging Finance launches Fund of Funds in Alternative Credit – Bloomberg

by ahnationtalk on May 15, 201994 Views

Bridging Finance Inc. is launching what it says is Canada’s first fund of funds for alternative credit — tapping into the swelling market for private debt in the

The asset manager is planning to raise about C$500 million ($372 million) over the next 12 months, adding to its C$1.4 billion in assets under management, Chief Executive Officer David Sharpe said. Sharpe, a status member of the Mohawks of the Bay of Quinte, launched a private debt fund last month dedicated to financing Indigenous economic development which he also plans to expand to C$500 million.

The fund of funds, which is expected to be launched in June by Bridging and its affiliate Fern Capital Partners, will invest in funds focused on private credit, distressed debt, senior loans, along with public debt such as short-term Treasuries and preferred shares. Longer term, it plans to invest in
infrastructure funds.

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