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The CLO is CVC’s second in Europe this year and brings its total CLO assets to €6bn.
The fund strategy invests in a range of private credit strategies, with secondaries currently the main focus.
The private markets giant says this is the largest such fund ever, and it will seek to deploy capital opportunistically.
The London-based asset manager believes dislocation driven by covid-19 will create NPL opportunities.
The inaugural Senior Loan Fund doubled its initial target of $1.5bn, and will focus on sponsor-backed companies in the US and Canada.
The fund is backed by Greater Manchester Pension Fund and will particularly focus on businesses in the north of England.
For better or worse fundraising will have to be conducted with less of a human touch.
The fund manager continued to raise capital during a difficult Q2 and reveals plans for the latter half of 2020.
The fund is seeking €2.5bn for a more conservative direct lending strategy.
The fund manager has attracted a commitment from the EIF as it seeks to broaden its appeal beyond its home country.

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