US-based different asset supervisor GCM Grosvenor is ready to launch a devoted non-public debt secondaries fund.
In line with reporting by Secondaries Investor, the agency registered its GCM Grosvenor Credit score Secondaries Fund final month with the US Securities and Change Fee.
The fund has not disclosed its goal measurement and a launch date has not but been introduced.
Earlier this yr, GCM Grosvenor appointed two new members to its credit score staff because it ready to develop its attain within the sector.
Learn extra: Personal credit score secondaries change into extra widespread, paving approach for GP-led offers
Brandon Cahill joined the agency from Blue Mountain Capital Administration, whereas Scott Ingles joined GCM from Carlyle Group.
Final month, GCM co-led the funding on Guggenheim Investments’ $1.2bn (£0.94bn) non-public credit score car.
Earlier this yr, GCM launched the $1.25bn GCM Grosvenor Secondary Alternatives Fund IV, which focuses on non-public fairness alternatives.
The non-public debt secondaries market has been focused by quite a few massive asset managers in current months. Earlier this yr, a JP Morgan credit score professional mentioned that he expects greater than $30bn of personal credit score to vary fingers within the secondary market this yr, up from simply $3bn in 2019.
In January, Apollo mentioned that it was seeking to elevate $2bn for its second credit score secondaries fund. And final month, Goldman Sachs raised a report $3.4bn for its actual property secondaries fund.
Learn extra: Personal credit score secondaries set to hit $30bn this yr
