BlueBay Asset Management Closes Senior Loan Fund at €3B+

Jul 24 2017 | 3:44pm ET

BlueBay Asset Management’s Private Debt Group has raised more than €3 billion, including leverage, in investable capital for a new private credit fund that will target upper middle-market European businesses. 

The new fund, named the Senior Loan Fund, significantly exceeded its initial target, the company said in a statement. It enjoyed strong support from both existing and new institutional investors globally. 

The fund will provide credit to upper mid-market European businesses through custom financing solutions for leveraged buy-outs (LBOs), M&A, corporate financing, growth financing and re-financings, the statement added. To accommodate its diverse investor base, the fund offers both levered and unlevered investment options across several currencies, and was 12% committed across six transactions at close. 

Fried Frank advised BlueBay on the fundraise. 

BlueBay’s private debt platform now has more than €7 billion in assets and has successfully completed over 55 transactions across 9 geographies since inception in 2011.

The new fund is BlueBay’s third generation of private debt vehicles, and complements its direct lending funds by focusing on larger, lower-levered, senior debt transactions.

London-based BlueBay is a global specialist fixed income manager managing more than $53 billion for institutional investors and financial institutions across fixed income portfolios, alternative strategies and private debt.

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