Evolution Credit Partners Management, an alternative credit firm with approximately $3 billion in assets under management, today announced the final close of its opportunistic credit strategy, Evolution Credit Opportunity Fund II, L.P. The Fund has approximately $1.05 billion of investable capital, including investor commitments to the fund, as well as leverage and separately managed accounts. The Fund invests opportunistically across Evolution’s entire credit platform, which includes both leveraged finance and trade finance strategies, primarily providing customized private capital solutions to companies looking for longer-term acquisition financing and shorter-term working capital needs.
The Fund took advantage of the tactical opportunities in the second half of 2022 and has invested over $700 million to date, which is inclusive of almost $300 million of contingent credit transactions. Since inception in 2018 Evolution has committed approximately $5 billion of capital.
Inclusive of ECO II, Evolution has four commingled fund offerings, all of which are now closed to new investors. Investors in Evolution’s funds include pension funds, endowments and foundations, asset managers and other US and global institutions.
In addition to the close of ECO II, in December 2022, Evolution’s inaugural hedge fund product, Evolution Credit Partners Trade Finance Fund, L.P., closed on its initial target of approximately $100 million and is currently soft closed to new investors.
In the 5 years since Evolution’s spin out from Harvard Management Company in April 2018, Evolution has grown capital from $300 million to approximately $3 billion, growing its credit strategies and expanding its commingled and separately managed account offerings to investors.
About Evolution Credit Partners
Evolution Credit Partners, headquartered in Boston, Massachusetts, manages approximately $3 billion across a range of leveraged finance and trade finance strategies. Evolution’s credit platform provides bespoke financing solutions across the credit spectrum. For more information, please visit evolutioncreditpartners.com
