John Bakie
The defined contribution pension provider wants to improve access to private markets for a growing segment of the retirement savings industry.
Mid-market fundraising has fallen back in 2018 while large and multi-regional funds pick up the pace.
The hire will help Investec expand its syndication capability for leveraged buyouts.
Smaller companies have been borrowing above the pre-crisis peak for several years.
Economic momentum and profit growth remain strong, and Antares remains bullish about its portfolio, senior managing director and co-head of sponsor coverage Tim Lyne said.
The fund is the first debt vehicle to launch since Ardian spun out from AXA.
The new vehicle will look for primary and co-investment opportunities with funds focused on smaller companies.
The Canadian pension fund has rapidly expanded its private debt activities in recent years.
Potential crisis around trade, Brexit and Italy’s government could cause trouble for credit markets.
The firm is raising its first vehicle since it was acquired by Swiss asset manager LGT.