Firm president Tony James attributed performance to declines in “fees below last year’s very high levels”.
The real estate division of French insurance giant AXA has been selected by five Danish pension funds for a mandate to make senior property loans in Western Europe, mainly concentrating on the UK.
The firm has only lost money on one deal since its inception, according to Orange County Employees Retirement System documents.
The $4.5bn BDC is the third such vehicle to list on the stock exchange in recent weeks.
Despite improvements to the Europe’s economy, Fitch Ratings reports that syndicated loan volumes hit a two year low during Q1.
The asset manager has provided €110 million of acquisition financing for a Dutch residential portfolio.
The funds-of-funds firm has been marketing the fund since last year.
The firm, headquartered in the shadow of London's St. Paul's cathedral, raised 70 percent more than its initial target and has already deployed half the fund since a first close last February.
The wood pellet and fertilizer supplier used proceeds from the transaction to pay down a $50m balance on a revolving loan.
Global distressed activity has fallen, but signs point to a re-emergence of opportunities.