John Bakie
Jennifer Hartviksen joined IMCO in 2020 to lead its creation of a global credit portfolio. She reflects on how the organisation has plotted a way forward
Small companies play a vital role in the economy, but the pandemic has left many struggling financially. Could alternative lenders fill the gaps to support a broad economic recovery? John Bakie investigates
The Singapore-headquartered fund manager secured $455m after adding three new LPs to its latest credit fund.
The deal will add real estate and infrastructure debt to Sienna’s growing alternative assets platform.
The firm’s second strategic credit vehicle is rumoured to be around 40% deployed with its predecessor now fully invested and delivering returns to LPs.
The firm raised the fund at the height of the covid-19 pandemic and it is on course to be fully deployed in the coming months.
Fundraising saw a strong recovery in 2021 according to the latest PDI figures, but LPs are increasingly drawn to larger funds.
The fund has backing from a Korean private equity investor to provide non-dilutive capital to start-ups in the MENA region.
Fundraising levels have recovered but are being driven by a smaller number of very large vehicles.
Iryna Voronova joins the firm from Siemens Financial Services and will focus on growing its newly launched credit offering.