Arcmont Asset Administration is trying to increase a minimum of €12bn (£10.1bn) for a brand new European direct lending fund.
This would be the personal debt agency’s fifth fund from its flagship technique, based on Bloomberg, having raised €10bn for its final European direct lending fund in January this yr.
Arcmont is providing buyers a web inside fee of return of between eight per cent and 14 per cent, based on sources cited by Bloomberg.
They stated the return depends upon preferences concerning fund leverage and subordinated debt.
Learn extra: Principal predicts “manageable” default charges for direct lending market
Arcmont’s direct lending technique invests in a defensive, diversified portfolio consisting primarily of senior loans, in addition to unitranche, second lien and subordinated loans.
The most recent fundraise comes as Arcmont readies to launch a Lengthy-Time period Asset Fund (LTAF) centered on personal credit score.
The agency acquired regulatory approval final month for the CG Arcmont Non-public Credit score Europe LTAF, which shall be obtainable to skilled buyers and supply entry to direct lending investments to European higher mid-market companies.
The open-ended technique is the primary LTAF to give attention to personal debt.
Arcmont was acquired by US asset supervisor Nuveen final yr. Because it was based in 2011, the group has raised greater than €29bn and has invested in additional than 350 offers.
