John Bakie
Tough market conditions, especially in Europe, saw fundraising struggle through the first nine months of the year.
The firm has teamed up with Privium Fund Management to offer a portfolio of private credit investments for wealth managers and retail investors.
The new group brings together a number of existing teams focused on private debt and alternative lending.
Private credit has grown significantly since the last market crisis. There are those who think it now poses a wider threat to financial stability.
The final close of the firm’s latest venture debt fund is the first following its acquisition by BlackRock earlier this year.
The asset manager’s first vehicle dedicated to direct lending will target European mid-market companies.
The evergreen fund will invest in a broad range of alternative credit strategies.
No-one should expect a sudden 2008-style surge in non-performing loans, but economic headwinds are expected to eventually translate to a promising opportunity set.
Fund is targeting €500m to invest in energy transition projects across eurozone countries.
The fund is the firm’s first debt vehicle dedicated to investing in companies that have the potential to drive efforts to achieve a low-carbon economy.