Pursuit Fund Advisers, LLC, an asset manager dedicated to differentiated alternative investments, announced the launch of the Pursuit Asset-Based Income Fund (GOFOX), which is described as a continuously offered, closed-end interval fund, upon reorganization of its private predecessor fund.
After a private fund offering rollout in October 2024, the Fund has reportedly delivered 13.58% net returns to investors.
The Fund aims to deliver high current income via asset-based investments in niche markets that may offer a return premium and better risk controls than comparable fixed income and private credit institutional offerings.
Pursuit targets sectors where capital is said to be fairly scarce because of complexity, capacity, or cost—targeting opportunities that tend to get overlooked by many of the traditional asset management firms.
Pursuit Funds is spearheaded by Founder & Chief Investment Officer, Paul Ghaffari, an investor with experience in various 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.
Ghaffari is said to have a track record of making alternatives accessible to new investor audiences, a history he aims to repeat with Pursuit.
Ghaffari added:
“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. Through this vehicle, we aim to unlock value in areas that are structurally inefficient, capital-scarce, and inaccessible to institutional allocators.”
The Fund is said to be structured as an interval fund, which is described as an investor-friendly structure that aims to offer daily subscriptions, daily NAV and periodic liquidity via regular repurchase offers.
Investors are now able to expect exposure to collateral-backed investments across sectors like specialty finance, capital relief, trade finance, real assets, royalties, sports & media rights, and various other asset-based strategies.
The launch comes after Pursuit’s strategic joint venture with Percent, a private credit marketplace with $2 billion+ in transaction volume.
Under the initiative, Percent will be Pursuit Fund’s tech and servicing partner enabling origination, documentation, servicing, and portfolio data.
To date, the Fund has reportedly allocated more than $50M across 95 asset-based deals originated by Percent.
Prath Reddy, President of Percent and a member of the Fund’s investment committee, added,
“We are … strategically partnering 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 … private credit focused distribution platform and infrastructure provider.”