Permira Credit, a London-based credit specialist investor, closed its $4.6 billion Permira Credit Solutions Fund V. The fund directly lends to mid-market companies across Europe. The fund typically lends €50 million to €250 million to firms with EBITDA between €20 million to €100 million. The fund expects to target a gross yield of between 11 to 12 per cent. Permira has tripled assets under management over the past five years to €16bn. More here
HSBC Asset Management, a London-based asset manager, launched its second Senior UK Direct Lending strategy. The strategy lends senior secured loans to mid-market private equity-backed companies. The investments to date have been diversified across industries and geographically spread across the UK. The strategy targets leverage of 3-4x on new loan investments. The strategy has over $580 million of commitments. More here
Greywolf Capital Management, a New York-based alternative asset manager, announced the final close of its $120 million Greywolf Containership Opportunities Fund II. The fund purchases commercial ships leased to international shipping companies. It typically acquires ships in the middle of their useful life for the period of between 18 months and three years. The leases provide income on top of the underlying asset value. Greywolf currently manages 22 container ships. The Fund brings Greywolf’s total capital commitments dedicated to maritime strategies to approximately $330 million. More here
Epsilon Direct Lending, an Australian-based direct lending fund manager, launched its second Senior Loan Fund. The fund lends senior secured, floating-rate loans to Australian and New Zealand middle-market companies. The typically lends ~$10 to $40 million to businesses with an annual turnover of between ~$20 to $300 million. The fund focuses on performing companies operating in non-cyclical industries, to support growth, with no loans made to property-related financing. More here
Impact Bridge Asset Management, a Spanish-based social impact asset manager launched its $165 million Impact Debt Fund. The fund is an Article 9 fund and will lend to impactful SMEs in Spain (>85% portfolio) and Portugal. It targets a net target return of between 5 to 7 per cent. More here