John Bakie
The London-based asset manager believes dislocation driven by covid-19 will create NPL opportunities.
The fund is backed by Greater Manchester Pension Fund and will particularly focus on businesses in the north of England.
The fund manager continued to raise capital during a difficult Q2 and reveals plans for the latter half of 2020.
The fund is seeking €2.5bn for a more conservative direct lending strategy.
The expansion is expected to generate more investment opportunities in Italy.
The deal accelerates an existing agreement to acquire all of Idinvest by 2022.
The firm hopes to target growing demand for investments uncorrelated to US credit markets.
The vehicle was seeking additional funds due to coronavirus-related opportunities.
Lenders in Germany are positive about the final quarter of the year and are securing better terms with their borrowers.
The fund will be larger than its predecessors and will focus on sustainable real estate projects.