The Credit Crunch 30/04/23

Your weekly summary of Private Credit Fundraising

Oaktree Capital Management, a Global asset manager, announced the final close of its $1.3 billion European Capital Solutions Fund III. The fund lends to non-sponsored middle-market borrowers across Western Europe. Oaktree’s private credit platform was created in 2001 and manages approximately $24 billion across its global, US, and European private debt strategies as well as its 17Capital NAV-based financing business. More here

Ares, a Los Angeles based alternative investment manager, announced the launch of its $1.5 billion Strategic Income Fund. The fund will invest in directly originated, senior secured, floating-rate loans to U.S. middle-market companies. The fund will be structured as a perpetual capital, continuously offered, non-traded business development company and will be distributed through Ares Wealth Management Solutions. More here

LCM Partners, a London based asset manager, announced the final close of its $4.6 billion Credit Opportunities IV fund. The fund acquires granular pools of performing, re-performing and non-performing loans from banks and financial institutions using proprietary data from over 5.3 million customers. More here

CVC Capital Partners, a Luxembourg based investment manager, is targeting to raise $7.8 billion for its European Direct Lending IV fund. The fund directly lends senior secured loans to sponsored medium and large companies in Europe. The loans are directly sourced through the CVC Network and privately negotiated by the investment team, based in London and across Europe. More here

Fiera Real Estate, an affiliate of global investment manager Fiera Capital, launched an open-ended European real estate debt fund, with initial commitments of $126 million. The fund will invest in senior-secured real estate loans across Europe and targets a Net IRR of greater than 10%. More here