400 Capital Management is an alternative credit manager that runs asset-based private credit funds. The firm operates from offices in New York (660 Fifth Avenue) and London (13 Hanover Square), manages approximately $7.3 billion with a team of about 76 professionals, and was founded in 2008. 400 Capital structures capital through closed-end Asset Based Term Funds that provide asset-based private credit exposure; Asset Based Term Fund IV (ABTF IV) held an oversubscribed final close at $1.39 billion in March 2025. ABTF IV targets asset-based lending with exposure to residential and commercial real estate. The firm’s combination of multi-hub coverage, a dedicated private credit fund series, and institutional-scale fundraises positions it as a source of large, asset-based private credit liquidity for sponsors seeking term financing secured by real-estate-related collateral.