John Bakie
The deal is the investor’s first from its fourth Credit Opportunities fund, which held a first close in November.
The fund of funds will invest in primary, secondary and co-investment opportunities in Europe and North America.
Capzanine hopes to expand its access to international investors through strong links with AXA’s investment management business.
Today’s unique market dynamics will result in opportunities in a downturn for credit managers that prudently manage investors’ capital in boon times.
Hermes latest hire will expand its expertise in the German loan market as it seeks to grow its business in continental Europe.
The fund will target opportunities in bank loans due to regulatory conditions facing the industry.
Private equity managers are looking to expand their offerings into credit.
LPs are putting more cash in the hands of the leading fund managers.
The appointment of Adrian Grammerstorf from UniCredit continues the firm’s private debt push into Europe, where it has established bases in Germany and France.
The fund comfortably surpassed its €500m target and will focus on investing in lower mid-market companies.