Seller Details:
Alternative Fund Advisors (“AFA”) provides financial advisors and family offices with efficient and convenient access to private investments through interval funds. The AFA Asset Based Lending Fund is an interval fund launched on June 30, 2021 that seeks high current income by investing in a diversified portfolio of asset-based loans across specialty finance, real estate and other private credit niches. As of September 30, 2026, the fund had approximately $230 million in net assets across 650 underlying investments.
Buyer Details:
Mount Logan Capital Inc. (“Mount Logan”) is an integrated alternative asset management and insurance solutions firm focused on generating durable, fee-based revenue and long-term value creation. They leverage differentiated investment strategies alongside permanent insurance capital to deliver attractive, risk-adjusted returns across market cycles. Through its subsidiaries, Mount Logan Management LLC (“MLM”) and Ability Insurance Company, Mount Logan manages and invests across private and public credit markets in North America and operates an insurance platform that provides long-duration liabilities to support its credit investment strategies. This integrated platform is designed to provide stable earnings, downside protection, and a low risk of principal impairment through the credit cycle. As of June 30, 2026, Mount Logan had over $2 billion in assets under management.
Transaction Summary:
MLM will succeed AFA as investment adviser to the AFA Asset Based Lending Fund, bringing Mount Logan’s interval fund assets under management to approximately $460 million. Upon closing, the Fund will be renamed Mount Logan Asset Based Lending Fund. It will continue to provide access to a broadly diversified range of asset-based lending and specialty finance credits. Fund shareholders are expected to benefit from MLM’s scale, resources and extensive in-house origination capability. The Fund manages approximately $230 million in assets from a wide range of investors, particularly those interested in diversifying their fixed income portfolios.