Corre Partners Management, LLC (“Corre Partners” or “Corre”), a US-based opportunistic credit manager, held a $220 million initial close for the Horizon III Fund (“Horizon III” or the “Fund”) on October 5, 2026. The Fund has a target size of $500 million and a hard cap of $650 million. With this close, Corre now manages over $1.3 billion in capital.

Horizon III seeks to build on Corre’s successful track record by investing in middle market companies experiencing temporary stress or undergoing a turnaround. The predecessor fund, Horizon II, has delivered a Net IRR of 24.7% and a Net MOIC of 2.4x as of June 30, 2026.

John Barrett, Managing Partner and CIO of Corre Partners, commented on the initial close of Horizon III, “I want to first thank our anchor investors for their continued strong partnership that facilitated such a successful first closing. I also want to thank our entire team for the hard work and solid execution of our differentiated credit strategy, which aims to identify and capture value arising from temporary business challenges and complexity. While I have viewed our targeted opportunity set as all-weather since our inception in 2009, today’s evolving middle market structure coupled with the current higher-for-longer rate backdrop should enable us to even more effectively deploy Horizon III to generate equity-like returns with less risk.”

Disclosure

This press release is for information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security or interest in the Fund. The Fund is open exclusively to “accredited investors” as defined under the U.S. Securities Act of 1933.

 

Past performance is not indicative of future results. Statements contained herein include forward-looking statements that involve risk and uncertainties. An investor should consider the investment objectives, risks, and expenses of the Fund before investing. An investment in any strategy, including the strategy described herein, involves a high degree of risk including the risk of loss of the entire amount invested.

 

Net Internal Rate of Return (Net IRR) reflects the internal rate of return from an investment minus fees and expenses. Net Multiple on Invested Capital (Net MOIC) represents the total value relative to total invested capital minus fees and expenses. Total value represents the sum of all cash inflows, including profits and distributions, generated from the investment portfolio. Invested capital refers to the initial amount of capital invested. Corre makes no representation that any investment will or is likely to achieve results similar to those shown.

 

Important risk factors include, but are not limited to, liquidity, counterparty creditworthiness, market volatility, general credit risks, event-driven investments, distressed/bankruptcy investing, investments in undervalued securities. An investor must be able to bear all risks involved.

 

Corre Partners Management, LLC is a registered investment adviser with the SEC. Registration with the SEC does not imply a certain level of skill or training, nor does it constitute an endorsement or approval of Corre, its strategies, or the Fund by the Commission.

 

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