Latham Advises Chimera Capital on its Inaugural US$2 Billion Credit Fundraising with Alpha Wave Global

Latham & Watkins has advised Chimera Capital on the structuring, establishment and launch of Alpha Wave Private Credit - an open-ended credit fund, with initial commitments of US$2 billion - alongside Alpha Wave Global.

The fund, which will be jointly managed by Chimera Capital and Alpha Wave Global, aims to develop a diversified portfolio of credit investments reflecting attractive risk-reward characteristics irrespective of the path of interest rates and in the context of growth in the private market for credit solutions. It will invest primarily in private loans, as well as other credit instruments on an opportunistic basis. The Fund has a global mandate with a primary focus on the US, Canada, UK, EU, and Australia. The transaction marks the establishment of Chimera’s Credit Strategies vertical, and sees it further broaden its product offering to include a new asset class.

Chimera Capital is owned by Chimera Investments LLC, an Abu Dhabi-based private investment firm managing a diversified portfolio of listed and unlisted equities on both local and regional markets.

The Latham team was led by London partner James McCrory and Dubai partner Eyad Latif, with New York associates Oliver Prakash-Jenkins and Danny Gwertzman. Advice was also provided on tax matters by Washington, D.C. partner Cheryl Coe, with associate Eli McCrain.