John Bakie
Smaller companies have been borrowing above the pre-crisis peak for several years.
Economic momentum and profit growth remain strong, and Antares remains bullish about its portfolio, senior managing director and co-head of sponsor coverage Tim Lyne said.
The fund is the first debt vehicle to launch since Ardian spun out from AXA.
The new vehicle will look for primary and co-investment opportunities with funds focused on smaller companies.
The Canadian pension fund has rapidly expanded its private debt activities in recent years.
Potential crisis around trade, Brexit and Italy’s government could cause trouble for credit markets.
The firm is raising its first vehicle since it was acquired by Swiss asset manager LGT.
Fundraising has fallen since 2017, but 2018 could still be an exceptional year.
Distressed debt fundraising has fallen back, but 2017 saw unprecedented activity.
We look at the breakdown of the biggest fund closes this year.