$400 million private credit fund launches with $3 billion target

Tether and Fasanara Capital launched StableFund, a private credit vehicle backed by $400 million from both partners. The fund aims to raise as much as $3 billion from institutional investors. It targets small and medium-sized businesses and consumers through asset-backed lending via fintech platforms across more than 60 countries. Fasanara Capital will manage investments using its network of lenders, while Tether will source USDT-linked financing opportunities and handle fund settlement infrastructure. The entities described the initiative as an evergreen fund focusing on short-duration loans for trade receivables and supply chain finance. Tether stated it generated about $1.5 billion in net operating profit in the second quarter, driven largely by its US Treasury and repo holdings. The company reported $187.8 billion in assets and a $4.11 billion reserve buffer at the end of June. Tether has previously deployed capital beyond stablecoin operations, including investments in neobanks, tech firms, and sports clubs.