MOSCOW, Feb. 22, 2016 /PRNewswire/ -- Target Asset Management and Blackmoon Financial Group announced the launch of a $100 million Fund investing in loans originated by European balance sheet lenders. The fund will be open to international investors with minimum commitment size of 125,000 EUR and will be targeting annual returns of 12-13% net of fees. Target Asset Management will manage the fund and Blackmoon will act as a technological provider for access to balance sheet lender portfolios, serve as risk assessor and broker loans. The Fund will become fully operational by the end of April 2016.
"We are very excited to partner with Blackmoon to launch this first of its kind Fund in Europe. We aim to be a leading asset manager in alternative credit space and constantly provide our clients with highest yielding strategies while minimizing risk. There currently exists no access for investors into this asset class even though it posses appealing risk adjusted returns. Using Blackmoon's sophisticated software for screening, evaluating and purchasing loans and our expertize in alternative credit, we plan to provide investors a unique exposure to this asset class with an attractive risk-reward profile," says Alexander Semeyko, Managing Partner of Target Asset Management.
"We are glad to partner with Target Asset Management in order to set up a first of its kind alternative credit fund. Blackmoon constantly improves its technology and adds new originators to increase the supply of loans as well as to diversify holdings across lending platforms. Having Target as a partner we anticipate increase of volumes of our business that will further strengthen our ability to develop Blackmoon as a one stop solution for access to loans originated by balance sheet lenders," says Oleg Seydak, CEO of Blackmoon.
Target Asset Management was founded in 2014 and together with the venture fund Target Global has over 300m$ of assets under management. The group has strong expertize in alternative credit space via investments of Target Global into leading US P2P lending platforms – Prosper and Realty Mogul.
Blackmoon Financial Group is an IT company that acts as a next generation technology oriented securitization agent in alternative lending space. Blackmoon facilitates real-time access of asset managers to loans originated by European balance sheet lenders. Blackmoon was founded in 2014 and since developed sophisticated technologies that provide deep online integration with loan originators as well as unmatched loan screening, scoring and pricing modules. Developing rapidly, Blackmoon is the market leader in providing access to alternative credit for asset managers. For more information, visit www.blackmoonfg.com.
Managing Partner, Target Asset Management
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CEO, Blackmoon Financial Group
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SOURCE Blackmoon Financial Group