John Bakie
Alternative real estate lenders are small in number but increasingly relied upon by an industry that the banks are withdrawing from. However, there are major difficulties in bridging the funding gap.
The firm, founded by two former KKR executives, will provide entrepreneur-led businesses with debt and equity capital.
Fundraising activity remained strong in 2022 but the number of funds fell to its lowest level since 2012.
The vehicle will provide both debt and equity investments for growing firms across central Europe.
The firm’s latest structured credit vehicle hit its hard-cap and will back businesses in healthcare, education and business services.
The fund is the firm’s first sharia compliant direct lending vehicle and received a cornerstone investment from Saudi Arabia’s sovereign wealth fund.
The fund saw a very high re-up rate and will continues its predecessors’ strategy of seeking out opportunistic credit investments across Europe.
The firm’s third fund will focus on private equity-backed deals across Europe and utilise CVC’s wider network.
Both firms have launched multiple CLOs in 2022 despite challenging market conditions.
The evergreen vehicle will focus on backing mid-sized companies with the ability to make a positive environmental impact.