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Fundraising
The firm has received regulatory approval to offer direct lending to defined contribution pension clients.
Fund targets off-the-run, mid-sized direct lending, stressed and distressed investments in third vintage.
The firm’s second opportunistic credit fund closed at more than twice the size of its predecessor with backing from LPs across the US, Europe and Asia.
The firm will continue its strategy of backing Central European growth businesses with debt and equity solutions.
The fund will continue its strategy of investing in lower mid-market companies in Europe.
Support from the Emirate’s sovereign wealth fund and other investors will enable the strategy to hold a first close soon.
M&A activity looks set to finally rebound in 2024, with lenders reporting a strong start to the year.
Second vintage has already deployed 40% of capital, and early investments are putting up net IRRs of 25%, manager says.
LA-based manager has a record amount of available capital, but sees dip in fundraising from Q4 2023.
Fundraising and deal volumes show signs of picking up after falling sharply in 2023.