fundraising

Azora and Oquendo Capital have launched a property lending platform in Spain, which is expected to raise €300m for its first vehicle.

The firm has done deals with healthcare therapeutics companies, as well as medical device and diagnostic businesses.

The latest version of the Alternative Lender Deal Tracker shows political events have not derailed Europe’s direct lending activity, though fundraising has fallen.

The fundraising is the first to be concluded since the UK-based manager was acquired by Natixis Investment Managers in June this year.

Its vehicle will be used to invest in mid-market companies across North America through senior secured first- and second-lien loans.

The firm’s direct lending strategy also holds the keys to the vast majority of its shadow assets under management, or those that have yet to begin earning management fees.

The asset class is at an important junction in its history, both in terms of its growth trajectory and the external pressures it faces. Here are the top themes.

The mid-market investment vehicle began its shift away from more arcane investments to traditional corporate term loans.

The vehicle, managed by Darby Overseas Investments, will be used to invest in mid-market companies with at least some of their revenue in US dollars.

New areas of expansion could include real estate debt or infrastructure debt.