Swiss private investor Partners Group has raised €375m towards a new fund that will provide senior debt to mid-market companies.
Partners Group Private Markets Credit Strategies 2012 was set up in response to a supply and demand imbalance.
“We believe the crisis will continue to keep markets busy in the years ahead,” said René Biner, a partner at the firm.
Capital constraints imposed by the European Central Bank are forcing banks to retreat from the market, while CLO vehicles are coming up against their reinvestment periods.
This gap in the market is leaving room for new entrants to provide loans.