Bridging Finance Inc. has announced its alliance with BlackRock Asset Management Canada Limited in offering one of the most diversified “fund of funds” offering of alternative credit in Canada.
The collaboration is intended to provide unique opportunities to “investors looking to diversify their alternative investments,” the announcement added. “The investment objective of the Fund is to generate positive absolute returns while preserving capital and with a low correlation to traditional asset classes.”
Currently available for retail investors across Canada, the fund has received commitments amounting to roughly $45 million, and is planning to raise approximately $450 million more in the next 12 months.
“We are extremely pleased and honored to welcome BlackRock to our Bridging Fern Alternative Credit Fund. As one of the largest asset managers in the world, we look forward to working with BlackRock and bringing this unique investment opportunity to the Canadian retail market,” Bridging Finance CEO David Sharpe said.
Sharpe added that the partnership is a valuable addition to the market.
“This Fund is a first of its kind in Canada and offers Canadian retail investors the opportunity to gain exposure to certain funds and fund managers that are typically only available to institutional investors.”