John Bakie
Transaction volumes reach their highest level in Europe despite terms becoming more conservative.
A new partnership between the two firms will enable Monroe to expand its activities and see Wendel commit $1bn to its funds.
The fund will offer access to an initial group of seven private debt funds through an evergreen structure with quarterly liquidity.
Fundraising bounced back in Q3 with average fund size continuing to increase, according to the latest PDI Fundraising Report.
Amid challenging market conditions, smaller businesses have put growth plans on hold. But as things begin to stabilise, capital providers are confident of seeing increased demand.
The strategy will aim to exploit growing demand for fund finance among the private equity industry.
The fund is a direct follow up to its 2018 vehicle and will continue to back mid-market American companies.
RoundShield closes its fifth fund on $1.01bn, surpassing its target, as it eyes opportunities in European asset-backed private credit across real asset sectors.
The fund is thought to be one of the largest ever raised for private debt investment in Europe.
The fund is backed by a joint venture between Park Square and Sumitomo Mutsui Banking Corporation.