The Credit Crunch 04/06/23

Your weekly summary of private credit fundraising

Tikehau, a French based asset manager, launched its $1.1 billion real estate fund. The fund will directly lend to sponsors and corporates, with a primary focus on asset-backed and traditional corporate financings, notably through junior mezzanine or whole loan debt. The fund is a strategic partnership with Altarea, a French property developer. More here

Kotak Investment Advisors, an Indian based alternative investment manager, announced the launch of its $1.6 billion second distressed credit fund. The company’s first distressed asset fund, launched in 2019 and has made a 20 per cent return since launch. More here

Silverton, a Germany based asset manager, is raising a $215 million real estate debt fund. The fund will lend between $5 - 30 million to real estate projects in Germany. Silverton will target refinancing unfinished developments as it believes that property developers will struggle with continued increasing costs. More here

FS Investments, a Philadelphia based asset manager, closed its first Tactical Opportunities Fund. The fund invests in complex, niche or unconventional situations, through direct lending or secondary investments. The fund is managed by the FS Investments Liquid Credit & Special Situations team, a $2 billion closed end fund. More here

Frontier Development Capital (FDC), a UK based alternative lender, raised a further $37 million for its $130 million fund. The fund is a multi-strategy vehicle and directly lends to small and medium sized businesses as well as property developers. FDC was acquired by Mercia Asset Management in December 2022. More here