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The Golub Capital Altman Index has clocked 16% earnings growth for the market in first two months of the year, but the firm's CEO says policy creates “very substantial risks” for the economy.
The sector is in its relative infancy in Asia-Pacific, with demand outweighing supply. Managers keen to participate would do well to note the vast differences within individual markets.
Direct lending in Europe has been driven by bank consolidation and is set to grow further following the covid-19 pandemic.
The target for the European fund has been exceeded, as Ares’ gross fundraising surpasses $40bn and net income more than doubles.
Set up by former Commonwealth Bank of Australia executives, the firm has attracted backing from a cornerstone investor as it seeks A$500m for its maiden vehicle.
Sources say Private Credit Fund IV has raised $855m in equity, more than half its $1.5bn target.
The cross-border linkup represents the US manager’s first foray into Europe.
The San Francisco-headquartered investment firm hit the hard-cap for the vehicle, which follows an €800m predecessor.

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