Tether and Fasanara launch private credit fund with $400 million in joint commitments, targeting up to $3 billion more from institutions

On September 9, local time, Tether and UK asset manager Fasanara Capital said they had launched StableFund, a private credit fund backed by $400 million in joint commitments. London-based Fasanara invests in small and medium-sized business loans, consumer credit, receivables and supply chain finance through fintech lenders, and has more than $6 billion in assets under management. StableFund has an evergreen structure, meaning it operates without a fixed maturity date and can expand as outside institutional capital participates. Separately, the two companies aim to raise up to $3 billion from external institutional investors. Fasanara will manage the fund and screen investments, with plans to invest in short-term, asset-backed loans through its fintech lending network. Tether will identify and advise on lending opportunities linked to its dollar-pegged stablecoin USDT. It will also provide settlement connections for conversions between fiat currencies and stablecoins and for cross-border fund transfers. The companies said they would provide funding to businesses and consumers that have struggled to obtain financing through traditional financial institutions, working through fintech companies operating in more than 60 countries.