Alcentra raises €5.5bn

The London-based private debt manager closes European direct lending fund.

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Alcentra has held a final close for is third European direct lending fund at €5.5 billion, surpassing the fund’s minimum target size of €3 billion. Alcentra European Direct Lending Fund III is focused primarily on pan-European senior debt across a range of sectors.

Chicago Policemen’s Annuity & Benefits Fund, Government Employees Pension Service (GEPS), and New Hampshire Retirement System are among the fund’s investor base, which includes institutional investors from Europe, the Middle East, the US and Asia.

Alcentra European Direct Lending Fund II held a final close at €2.09 billion in September 2016.