Chenavari Investment Managers Said To Target €750M For New Credit Fund

Nov 10 2017 | 9:51pm ET

London-based alternative asset manager Chenavari Investment Managers is reportedly targeting €750 million for its newest credit fund.

The new fund is aiming to hold a first close before the end of the year, according to an article in Private Equity News. It will seek to purchase portfolios of loans from banks as well as make opportunistic investments in distressed situations.

The company reportedly expects increasing pressure from regulators to spark a wave of non-performing loan sales by European banks. Expected IRR on the new fund is between 12% and 15%, PE News said, citing marketing documents.  

Chenavari Investment Managers was founded in 2007 by former Calyon (now Credit Agricole CIB) global head of credit Loïc Fery. The company has approximately $5.4 billion in AUM and targets investment strategies across credit, structured finance and less liquid opportunities such as private credit, specialty finance, real estate, and portfolio acquisitions. The company’s strategies operate through liquid alternative funds (UCITS), hedge funds, longer-term funds and managed accounts.

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