Europe

With distinctive characteristics from direct lending, asset-based finance is the ‘next big thing’ for private credit, according to Grzegorz Blicharz, portfolio manager, DB Investment Partners.

The two firms have today announced separate ELTIF 2.0 funds targeting wealth managers and their clients.

Insurer will control US manager MGG, and its JV with Natixis will create Europe’s largest asset manager by revenue.

The firm’s first closed-end debt fund is now more than half way to reaching its $500m target.

The fund is thought to be one of the largest ever raised for European private debt and, with associated vehicles and leverage, will have around €30bn of deployable capital.

Credit Opportunities Fund III is Carlyle’s largest-ever credit fundraise, with ‘robust appetite’ for the strategy.

The European distressed and special situations credit fund was smaller than its predecessor.

The US may look to travel in one direction as Europe heads in the other. But there may be less to this divergence than meets the eye

The fund will focus on opportunistic investments in firms in the business services, industrial technology and healthcare sectors.