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A report from Willis Towers Watson notes the asset class has grown more than any other alternative asset category over the past 12 months.

The two firms have completed the purchase on non-performing loans from the Italian bank and asset-backed securities will now be issued.

The firm received €2bn in fresh commitments to the asset class during the first six months of 2017.

Based on investor demand, the firm is launching a fund with smaller loans, higher yields and potentially floating interest rates.

The acquisition of the former European Capital by LGT Capital Partners was completed in June.

The firm has provided a three-year loan, shorter than its usual loan investments, as demand in the market swings to such financing.

The firm’s UK Strategic Alternative Income Fund will invest in several flavours of debt, including infrastructure, real estate and private credit.

The firm’s latest special opportunities fund has held a final close following another multi-billion raise earlier this year.

ESO Capital, previously the sole debt financier of a restaurant chain, has now moved to provide a mezzanine facility with the original financing being renegotiated.

The acquisition will allow the firm to enter the smaller end of the loan market, providing financing of up to €1m to small businesses.