Kilo Fund Management announces launch of Kilo Hedged Commodity Credit Fund with cornerstone commitment from Cordillera Investment Partners, financing by East West Bank
Kilo Fund Management announces launch of Kilo Hedged Commodity Credit Fund
CHARLOTTE, N.C., Jan. 16, 2020 /PRNewswire-PRWeb/ -- Kilo Fund Management, LLC ("Kilo") today announced the launch of the Kilo Hedged Commodity Credit Fund (the "Fund"). The Fund offers tailored precious metal financing and hedging solutions to US businesses that use gold, silver, platinum and palladium. Working with the Fund, companies in the jewelry, bullion dealing, and industrial manufacturing sectors have a non-bank financing partner with deep roots and commitment to the metal leasing business.
Cordillera Investment Partners, a Bay Area based investment group that is backed by endowments, foundations, family offices, and wealth advisors, provided a $25 million cornerstone equity commitment to the Fund. Additional equity commitments were provided by family office investors and Kilo principals.
East West Bank, a market leader in structured finance entered into a multi year committed credit facility for the fund. The facility provides the flexibility for the initial $20 million credit commitment to rise as the Fund deploys capital.
"The capital provided by our equity partners and East West Bank will fuel continued momentum in our quest to be the leading non bank provider of precious metal financing to US based mid market companies. We are grateful for the investment that the East West Bank and Cordillera teams made to understand our vision, and their support for what we are building," said Wade Brennan, Kilo Group CEO.
"We seek to invest in niche, non-correlated assets outside of traditional asset classes," said Ashley Marks of Cordillera Investment Partners. "Kilo's model fits that criteria. We look forward to seeing the capital work in this space."
"We are pleased to have structured a robust senior credit facility for Kilo, which provides bespoke financing against an asset class that until recently has been dominated by major banks. We have been impressed by the level of expertise demonstrated by Kilo's management team and look forward to being a part of the company's growth," said Mark Parsa, Senior Vice President of East West Bank's Structured Finance Group.
About Kilo Fund Management: A subsidiary of Kilo Capital Corporation, the company is an NFA registered Commodity Pool Operator responsible for managing regulated commodity credit funds. Through its subsidiaries the Kilo group offers precious metal leasing, secured lending, hedging services. The Fund is closed to new investors; this press release is not intended as a solicitation. For more information please see kilocapital.com and kilofutures.com. All inquiries can be directed to [email protected] or 866.967.7528
SOURCE Kilo Fund Management
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