28 April 2023
Wingate has announced the launch of its third Corporate Credit Fund, Wingate Corporate Credit Fund 3 (WCCF3).
This fund builds upon the opportunities identified through the first two corporate credit funds in the series, WCCF1 and WCCF2, which have collectively deployed more than $150m into Australian and NZ based companies.
“We have been delighted with the early reception of WCCF3 by our long-standing co-investors,” said Selwyn Schroeder, Managing Director of Wingate Corporate Investments. “The retreat of major lenders in the mid-market corporate space has led to a significant opportunity, and our pipeline of quality investment opportunities is compelling.”
“Our track record in this asset class and the timing of the WCCF3 launch is well placed to deliver on the fund mandate to provide co-investors with enhanced risk-adjusted returns.”
WCCF3 aims to capitalise on markets where major banks have pulled back, providing debt solutions for mid-size Australian and New Zealand companies seeking funding for growth, M&A, working capital and loan book funding.
“The asset class continues to offer resilience through the cycle, complementing public equities portfolios, particularly as investors navigate times of economic change and dislocation,”
“We have a highly experienced team who can identify, execute, and risk manage these highly unique investments. The performance of WCCF1 and WCCF2 – each delivering well into double-digit returns – demonstrate our strong track record in this sector, and we look forward to continuing to partner with co-investors in WCCF3.”
Wingate Corporate Credit fund is currently open to wholesale investors. The first two funds were oversubscribed by Wingate investors, and WCCF3 is expected to build upon this appetite.
The WCCF series sits alongside the $1bn+ property-focused Wingate Investment Partners Trust. Wingate has a 20-year track record in private debt in Australia, delivering consistent risk-adjusted returns over multiple market cycles.