Russell Investments has launched an ”evergreen” fund to provide professional investors in the UK with exposure to global private credit markets.
The Russell Investments Global Private Credit Fund will invest through selected managers to access a diversified range of private credit exposures, the firm said. This will include North American and European asset-backed and direct lending allocations as well as real estate debt and other opportunities.
The Luxembourg-domiciled fund has an evergreen structure, which “may” offer quarterly liquidity up to 5% of NAV after the investment period.
The fund is at present seeking an annualised net return of 8% over a market cycle and will be available to professional investors based in the UK.
Keith Brakebill, a senior portfolio manager at the firm, said: “Private credit has been an asset class ‘in vogue’ for some time, with investors keen to access the improved returns and lower drawdowns on offer relative to those available via public markets. However, investors have historically been limited by their ability to access the asset class effectively and have had to do so by focusing on specific sub-segments rather than via a broad exposure.
“In launching [the fund], we are able to offer a compelling solution to investor needs, allowing clients to access a diversified portfolio of private credit assets in a single investment which can generate income and long-term capital appreciation.”
