The Credit Crunch 26/03/23

Arrow Global, a UK based asset manager, announced it raised €2.75 billion for its flagship strategy Arrow Credit Opportunities II. The fund will invest in portfolios of European non-performing-loans, non-core banking opportunities, real estate assets, and assets acquired out of distressed situations. It will target a gross return of 18 - 20 percent. More here

Ares, a Los Angeles based alternative investment manager, and Mubadala, a UAE based sovereign fund, announced a $1 billion secondaries fund. The joint venture will provide customised liquidity solutions for private credit general partners and private credit limited partners. More here

Ironshield Capital, a London based credit hedge fund, announced the launch of its $300 million opportunities fund. The fund will look to capitalise on a pipeline of stressed and distressed opportunities. More here

Wealth simple, a Canadian digital financial services provider, announced the launch of its private credit fund. The fund will lend to companies selected by Sagard’s private credit team. Sagard focuses its lending primarily on North American middle-market companies with EBITDA of $10 million to $500 million. More here

Nova Capital, a Dublin based aviation lessor, has launched a private debt fund with an initial commitment of €50m. The fund will finance single engine helicopters and light aircraft, operated for on-shore mission critical and utility services. More here