Thursday, 29 September 2016
Last updated 9 hours ago
May 9 2014 | 1:47pm ET
TCW Group is eyeing $3 billion for what could be one of the largest direct-lending funds ever.
The Los Angeles-based firm plans to tap sovereign wealth funds and other institutional investors to meet the ambitious fundraising goal, which it may seek to double through leverage, The Wall Street Journal reports. The new fund, TCW Direct Lending Fund VI, is TCW’s first such vehicle since acquiring Regiment Capital Advisors’ direct-lending business last year.
The fund could begin making loans as soon as the summer, according to the Journal.
The Carlyle Group owns a majority stake in TCW.