John Bakie
The mandate will establish an evergreen fund to invest in a wide variety of debt instruments including real assets, SMEs and US and UK mid-market loans.
Falling deal numbers have not hampered the rate of capital deployment which is set to reach record levels.
The firm expects significant reinvestment from existing investors, allowing it to target double the capital raised by its predecessor.
The fund will give institutional investors access to Deutsche Bank-originated senior loans.
Pressure on bank balance sheets and a growing awareness of private debt products is set to boost growth for the asset class in Spain.
Third-quarter fundraising is matching 2018’s figure, but the amount of funds raised has drastically declined.
Management fees drop as North American managers seek to compete for LP allocations with their European counterparts.
The number of European private credit deals has more than doubled in just six years, with the UK still leading the pack, but France quickly catching up.
Portfolios are strong, but political uncertainty and originating good deals pose risks for private debt providers.
The appointments bring significant mezzanine investment experience to the Middle East-focused fund manager.