John Bakie
The investor's fifth special situations vehicle saw huge demand above its hard-cap.
Fundraising in H1 2021 is down on 2020 levels, showing the effect of the pandemic on fund managers.
Sources say the firm’s third credit fund, focused on investing in non-bank lenders, has held a first close.
ELFA and LMA have teamed up to provide a sustainability best practice guide for loan providers.
The vehicle has already committed most of its capital and the fund manager is planning to launch a follow up fund in the near future.
The fund closed above target and with more than four times as much capital as its predecessor.
Fundraising has been slower to recover than deal volumes due to covid-19 restrictions preventing GPs and LPs from meeting.
The firm is looking to provide wealth and asset managers’ clients with access to all of its private debt strategies.
The fund will continue MV’s strategy of investing in defensive upper mid-market companies.
Positive business sentiment as a result of the UK’s strong vaccine rollout is thought to have helped drive transaction volumes.