Credit score funding agency NorthWall Capital has introduced the ultimate shut of its European Alternatives Fund II and related autos, with greater than €640m (£539.5m) raised.
The fund has surpassed its €500m goal, greater than doubling the dimensions of its predecessor, NorthWall European Alternatives Fund I.
NorthWall’s European alternatives technique was established on the agency’s inception in 2017. It invests throughout opportunistic non-public credit score in Western Europe.
Learn extra: NorthWall Capital scales up credit score enterprise
NorthWall claims to take a scientific sourcing strategy, coupled with a give attention to creating bespoke funding options, enabling it to construction alternatives that ship robust draw back safety whereas concentrating on uncorrelated returns.
Previous to the ultimate closing, Fund II was already considerably deployed, having dedicated roughly 60 per cent of its capital to 14 transactions throughout 5 international locations in Western Europe.
The fund attracted a world base of institutional buyers, consisting of pension funds, insurance coverage corporations, massive institutional single and multi-family workplaces and personal banks from throughout Europe, North America and the Asia Pacific area.
It additionally acquired help from a big US-based guide and an Australian superannuation fund.
Learn extra: Manulife closes on $752m non-public credit score fund
“We’re honoured by the success of the fundraise for NWEOF II and want to thank our present and new buyers globally for his or her partnership,” Fabian Chrobog, founder and chief funding officer of NorthWall Capital, mentioned.
“We stay dedicated to delivering scalable funding alternatives that generate engaging risk-adjusted returns for our buyers whereas additionally serving as a dependable associate to our counterparties. We proceed to look at some of the compelling alternative units in European credit score in current historical past and can proceed to thoughtfully scale NorthWall in a method that permits us to lean into areas of dislocation.”
NorthWall’s principals have been investing in European non-public credit score for almost 20 years, and the staff has deployed greater than €1bn within the European opportunistic credit score technique to date.
Along with the flagship funds, the agency has experience in authorized belongings, asset-backed and senior lending alternatives.
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