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Laxman Pai, Opalesque Asia: Global asset manager Credit Suisse Asset Management said that its Credit Investments Group (CIG) has held a final close on $1.67 billion for its first direct lending-focused fund, the Private Credit Opportunities (PCO) Fund.
Including leverage, the vehicle will have approximately $3 billion to invest, the financial services provider said in a press release.
According to the company, PCO seeks to generate attractive risk-adjusted returns primarily by providing private debt financings across the capital structure including secured first and second lien loans, unitranche financings, and preferred equity made directly to upper middle market companies in North America and Europe.
To date, PCO has deployed approximately half of the Fund which will have in excess of USD 3 billion of deployable capital including leverage, it added.
John G. Popp, Global Head and Chief Investment Officer of Credit Suisse Asset Management's Credit Investments Group, said, "Our first direct lending fund will take advantage of the convergence between the syndicated and private credit markets. The investor demand we have seen validates CIG's position as an experienced investor of choice in the non-investment grade credit markets while our ability to deploy significant capital speaks to the breadth and depth of Credit Suisse's unrivaled leveraged finance and financial sponsors franchises."
PCO is managed by a dedicated private credit team within ...................... To view our full article Click here
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