Alternative investments marketplace iCapital is raising money for a new fund it plans to manage in-house that will invest in private credit, according to sources with knowledge of the situation.
A source told Citywire that iCapital is looking to raise $200m for the private credit fund. New York City-based iCapital has selected private equity firms Bain Capital, Audax Group and Charlesbank Capital Partners to serve as partners that will help it manage the fund, according to sources with knowledge of the situation.
Spokespeople for iCapital and Bain declined to comment, while spokespeople for Audax and Charlesbank did not provide comment and did not respond to a request for comment, respectively.