fundraising

The fund is set to be the firm’s largest vehicle to date and will target consumer NPLs.

The Munich-based asset manager has held a final close for its North American-focused fund of private debt funds.

The fund will follow the flexible approach of its predecessor investing in both performing and dislocated credit opportunities.

Big state-owned funds, once viewed as ‘deep pocketed, dumb money’, are making their mark in private credit.

Any hopes of a quick rebound for the private debt fundraising market in 2021 appear to have been dashed by the first-quarter fundraising figures.

The firm’s strategy, which is focused on direct lending to senior housing and healthcare, has beaten its target.

The Los Angeles-based firm’s Europe-focused ACE V is the largest-ever direct lending fund. PDI caught up with European credit co-heads Mike Dennis and Blair Jacobson to find out more.

The fund, which is already 75% committed, provides a range of debt solutions to SMEs based across Europe.

PEI's editorial team looks at the record $180bn raised for private equity in Q1 2021 and how average fund sizes for private debt funds topped $1bn for the first time during the quarter.

Debt funds are growing in size as fewer managers are able to secure the lion's share of capital, according to the latest PDI Fundraising Report.