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Pursuit Fund Advisers, LLC (“Pursuit Funds”), an asset manager dedicated to differentiated alternative investments, announced the launch of the Pursuit Asset-Based Income Fund (GOFOX), a continuously offered, closed-end interval fund, upon reorganization of its private predecessor fund. Following a successful private fund offering launch in October 20241, the Fund has delivered 13.58% net returns to investors since inception.
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“We created the Pursuit Asset-Based Income Fund to bring the potential benefits of niche asset-based credit to a broader set of investors without sacrificing opportunities for liquidity or transparency.”
The Fund seeks to deliver high current income through asset-based investments in hard-to-access niche markets that may offer a return premium and more robust risk controls than comparable fixed income and private credit institutional offerings. Pursuit targets sectors where capital is scarce due to complexity, capacity, or cost seeking opportunities that are often overlooked by traditional asset managers.
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Pursuit Funds is led by Founder & Chief Investment Officer, Paul Ghaffari, a veteran investor with deep experience in niche strategies. Ghaffari is the former CIO of Vulcan Capital, the family office for Microsoft co-founder Paul Allen, and a co-founder of FrontPoint Partners, a multi-strategy hedge fund complex known for its early success in structured credit. Ghaffari has a track record of making idiosyncratic alternatives accessible to new investor audiences, a history he seeks to repeat with Pursuit.
“We created the Pursuit Asset-Based Income Fund to bring the potential benefits of niche asset-based credit to a broader set of investors without sacrificing opportunities for liquidity or transparency,” said Ghaffari. “Through this vehicle, we aim to unlock value in areas that are structurally inefficient, capital-scarce, and inaccessible to institutional allocators.”
The Fund is structured as an interval fund, an investor-friendly structure that provides daily subscriptions, daily NAV and periodic liquidity through quarterly repurchase offers2. Investors can expect exposure to collateral-backed investments across sectors such as specialty finance, capital relief, trade finance, real assets, royalties, sports & media rights, and other niche asset-based strategies.
The launch follows Pursuit’s strategic joint venture with Percent, a private credit marketplace with over $2 billion in transaction volume. Under the joint venture, Percent will be Pursuit Fund’s technology and servicing partner supporting origination, documentation, servicing, and portfolio data. To date, the Fund has deployed over $50M across 95 asset-based deals originated by Percent.
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Prath Reddy, President of Percent and a member of the Fund’s investment committee, added, “We are thrilled to strategically partner with Paul and his team on a variety of levels to enhance Pursuit’s competitive advantage in the fast-growing asset-based lending market and showcase Percent’s capabilities as a cutting-edge private credit focused distribution platform and infrastructure provider.”
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Source: businesswire