Europe

LPs, some of which are hitting upper bounds of direct lending exposure, are turning to income-generating strategies like royalties, receivables and sale-leasebacks, says Conrod.

The evergreen fund will be available to both institutions and private wealth investors.

Sutta is taking over from Jim Moore, who will continue his role as Barings’ head of private placements.

Significant risk transfers are growing in popularity on both sides of the Atlantic as banks recognise their value in improving returns on capital – though more standardisation would be welcomed.

Private markets fundraising conditions are tightening, but managers with a track record can still attract investors to property credit.

The firm also reported a high re-up rate for its latest flagship European credit vehicle.

The firm secured its largest fundraise to date to provide credit to early stage and growth businesses.

Continuation vehicles backed by Pantheon will acquire a total of roughly $2bn of private credit investments.