Man Group Announces First Close of Man Opportunistic Credit Fund III

New York. Man Group, one of the world's largest alternative investment management firms, today announced the first close of Man Opportunistic Credit Fund III ("MOC Fund III" or "the Fund"). The Fund is targeting $1.25 billion in total commitments, with a final close expected within 12 months of today's first close. The Fund will end the capital commitment period early if it reaches a hard cap of $1.5 billion.

The Fund is the continuation of an opportunistic credit strategy with a track record spanning more than a decade, including two prior fund vintages. The team, led by Jason Dillow, invests across private and public credit opportunities through a generally unlevered approach. The Fund aims to invest primarily in mid-market, off-the-run and other situations where they believe there is less competition. Portfolio construction combines steady-return asset pools with direct-to-company financings and other bespoke opportunities.

This flexible approach allows for opportunistic capital deployment depending on the prevailing market environment. During periods of public market dislocation, the team has historically accelerated deployment into public credit opportunities, while in healthier market conditions, capital is generally weighted to private credit opportunities.

Steven Desmyter, President of Man Group, said:

"The first close of MOC Fund III reflects the continued confidence in Man Group’s ability to source and execute on truly differentiated credit opportunities. This team demonstrates deal sourcing and portfolio construction discipline that we see very few managers in the space replicate. We remain deeply committed to seeking alpha for our clients across market cycles and believe the current environment presents a compelling backdrop for this strategy.”

Jason Dillow, Co-Head of US Private Credit & Head of US Opportunistic Credit at Man Group, said:

"What continues to resonate most with investors is our focus on smaller companies and capital structures, allowing our seasoned investment team to negotiate bespoke lending arrangements with borrowers where we have trusted relationships. We believe this has led to attractive outcomes for clients. We are incredibly excited about this first close milestone.”