TCW's TPAY Fund Nears $600M AUM in Asset-Backed Finance
1 report, 1 independent
Updated Wed 00:00
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What happened
The private asset income fund TPAY, launched by TCW, is approaching $600 million in assets under management. TPAY is described as a pure play investment in asset-backed finance, providing capital to lenders and originators involved in mortgages, credit cards, and small business lending. The fund aims for a net level return of 8% to 10% per annum.
From investmentnews.com
Why it matters
TPAY is available on major custodial platforms, including Charles Schwab and Fidelity Investments. TCW estimated the U.S. asset-backed finance market was approximately $5 trillion last year, projecting growth to $8 trillion by 2027.
From investmentnews.com
Who's involved
- Charles SchwabHosted the IMPACT event and offers the TPAY fund on its platform
- Fidelity InvestmentsOffers the TPAY fund on its custodial platform
- BostonLocation where the IMPACT event was held
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The entities involved
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Boston
capital and largest city of Massachusetts, United States
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Charles Schwab
professor of agricultural and biosystems engineering