John Bakie
The fundraising landscape in Q1 was dominated by a small number of very large funds.
While private debt has performed well so far, LPs want managers to maintain a solid risk-return profile.
The fund will enable existing portfolio companies to access further capital for growth.
If you’re a large manager with freshly raised capital, you may be poised to prosper. For others, things could be about to get more challenging. PDI examines the landscape for private debt following the recent banking woes.
The third generation fund will focus on senior financings for non-sponsored businesses across Western Europe.
The fund will be managed by David Renshaw and Richard Howe, who joined Fiera from Cheyne last year.
The firm’s seventh debt fund is thought to have secured more than €1bn of commitments with a final close expected later this year.
The fund was heavily oversubscribed and more than doubled its initial fundraising target.
The CLO will have a strong focus on ESG criteria and is expected to close next month.
Falling activity in the UK and Germany enabled France to become the top market for European private debt deals for the first time.