BlueBay Asset Management has held a final close of BlueBay Direct Lending Fund III at €6 billion. The fund offers both levered and unlevered options as well as a range of currencies including euros, US dollars, sterling, yen and Canadian dollars. The fund will target the upper mid-market, looking at companies with EBITDA ranging from €10 million to €150 million and making loans of between €75 million and €300 million.
Fried Frank advised BlueBay on fundraising.
BlueBay Direct Lending Fund II closed at €2.41 billion in November 2015.