The D. E. Shaw Group Raises $1 Billion for Latest Private Credit Fund

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Nov 13, 2024, 10:00 ET

Firm Concludes Fundraising for Alkali Fund VI, a Closed-End Fund Primarily Pursing Opportunistic Credit Investments

NEW YORK, Nov. 13, 2024 /PRNewswire/ -- The D. E. Shaw group, a global investment and technology development firm, announced today that it has raised $1 billion in commitments for D. E. Shaw Alkali Fund VI ("Alkali VI"), a closed-end vehicle that is expected to pursue a multi-strategy investment style and invest primarily in corporate debt, structured credit, synthetic securitizations, and other specialty asset classes. The fund's investor base includes endowments and foundations, sovereign wealth funds, and pensions plans, among others. External investors who had invested in a previous Alkali vintage contributed more than $500 million of the total, while the firm's entities, principals, employees, and other investment funds contributed more than $70 million of the total.

The D. E. Shaw group has invested in private markets for much of its history and launched its first private credit fund in 2008. The Alkali Series, launched in 2012, is a family of closed-end, intermediate-duration investment funds that pursue a multi-strategy approach and focus primarily on less-liquid opportunities in credit, credit-related, and other markets. The closing of Alkali VI brings aggregate commitments across the Alkali funds to approximately $3.9 billion.

"We appreciate the continued support from our investors for our private fund offerings and are enthusiastic about the opportunity set we see for Alkali VI," said Edwin Jager, Managing Director and Executive Committee member. Mr. Jager oversees the D. E. Shaw group's Fundamental Equities, Asset-Backed Strategies, Convertible Securities, Corporate Credit, and Private Credit investment units, which collectively deploy capital across public and private equity and credit markets.

Alkali VI is overseen by the D. E. Shaw group's Private Credit investment team, in close collaboration with the firm's other credit-oriented investment teams. In total, these teams consist of approximately 200 investment, technology, data analysis, and research professionals. Managing Directors Rich McKinney, Marianna Fassinotti, and Seth Charnow are co-portfolio managers for the fund.

"We expect Alkali VI will benefit from the depth of our investment teams, our collaboration across asset classes in public and private markets, and our extensive analytical and technological capabilities," Jager added.

About the D. E. Shaw group

The D. E. Shaw group is a global investment and technology development firm with more than $60 billion in investment capital as of September 1, 2024, and offices in North America, Europe, and Asia. Since our founding in 1988, our firm has earned a reputation for successful investing based on innovation, careful risk management, and the quality and depth of our staff. We have a significant presence in the world's capital markets, investing in a wide range of companies and financial instruments in both developed and developing economies. For more information, visit deshaw.com.

This press release is provided for the reader's information only and does not constitute investment advice or convey an offer to sell, or the solicitation of an offer to buy, any securities or other financial products.

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SOURCE D. E. Shaw group