Former Taconic European Credit Team Spins-Out With $1.3 Billion

A European credit spinoff from recently overhauled US hedge fund Taconic Capital Advisors has secured $200 million in additional capital from seeder Stable Asset Management to support the launch of an evergreen private credit fund.

Dolomite Capital, which launched as an independent firm this month, will run the additional money along with the $1.1 billion in assets brought over from Taconic’s European credit dislocation funds, according to a statement Monday. The firm will focus on opportunistic lending and distressed debt in Europe, with stable’s capital invested in the evergreen portion and the capital brought over from Taconic in funds with a fixed life.