John Bakie
Both firms have launched multiple CLOs in 2022 despite challenging market conditions.
The evergreen vehicle will focus on backing mid-sized companies with the ability to make a positive environmental impact.
The newly created firm will continue to invest in sponsorless SMEs across the Iberian peninsula.
The fund will invest alongside primary fund partners in stable, mid-market companies across Europe.
The firm’s third fund focused on UK SMEs has already made seven investments and aims to hold a final close in the first half of 2023.
The fund was raised in just 12 months due to demand from existing investors and will invest alongside managed accounts.
A recovery in European fundraising meant 2022's total is on course to match previous years despite difficult economic conditions.
The new branding follows Cairn’s acquisition of distressed manager Bybrook Capital in 2021.
British Business Investments and Phoenix Group will act as anchors for the fund which is looking to back high-growth software and hardware companies.
The deal will expand Nuveen’s private debt capabilities within Europe and complement its existing ownership of Churchill.