Diameter to Return Some Capital, Raises $1.6 Billion Credit Fund.

Diameter Capital Partners, an investment firm based in New York, is returning some money to clients in order to maintain flexibility in a high interest-rate environment. The firm has raised $1.6 billion for its debut private credit vehicle and may return up to 10% of the assets in its Master Fund over time. This is the second time in three years that Diameter has reduced its investment pool. The firm has diversified into private strategies in recent years and has a hedge fund, dislocation funds, structured credit, and direct lending business. [Extracted from the article]