Anglo-South African asset manager Ninety One has made a final close of its European Credit Opportunities Fund 1 with around €150 million of investor commitments.
According to a statement, the fundraising attracted a broad range of institutional and private investors including from the UK, Europe, the Americas, and South Africa.
The fund aims to provide “tailored asset-based private credit solutions to underserved non-sponsored borrowers in European mid-markets”.
“Through a diverse portfolio of directly negotiated asset-based loans, the Fund complements traditional fixed income and private credit by offering investors access to a differentiated private credit strategy that targets uncorrelated returns, an attractive cash yield and downside protection.”
Recent transactions include directly originated bilateral loan facilities for a founder-owned German renewable energy company, a privately-held UK waste recycling business and a family-owned Swiss consumer products business.
Mimi Ferrini, Co-Chief Investment Officer, Ninety One: “The closing of the European Credit Opportunities Fund represents an important milestone in the ongoing expansion of Ninety One’s Alternative Credit platform.
“Investors are increasingly seeking managers who can offer them differentiated private market products and our European Credit Opportunities strategy represents one such product amongst several that we offer.”
