The $160 billion State of Wisconsin Investment Board has committed $70 million to two separate investment strategies from private credit firm Altriarch Asset Management LLC.
Altriarch, based in Charleston, South Carolina, reported $50 million of the Wisconsin state pension fund’s investment is earmarked for seed capital for an upcoming strategy from the asset manager. The remaining $20 million is allocated to Altriarch’s specialty finance strategy, which it launched more than a year ago to invest through a network of secured finance operators in the U.S.
According to Altriarch, its specialty finance strategy aims to target markets underserved by traditional lenders. The strategy focuses on originating asset-based loans to specialty lenders and small businesses and provides capital in the form of senior mezzanine debt and participation capital up to $50 million per borrower.
“We are dedicated to delivering what we believe are attractive risk-adjusted returns in the illiquid credit market through disciplined underwriting and strong risk management practices,” Altriarch Managing Partner and Co-CEO Danielle Brown said in a statement.
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Tags: Altriarch Asset Management, Danielle Brown, Private Credit, State Investment Fund, State of Wisconsin Investment Board