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Laxman Pai, Opalesque Asia:

European private debt investor Arcmont Asset Management has held a final close of its latest direct lending fund, gathering €10 billion ($10.9 billion) of investible capital.

The Direct Lending Fund IV (DLF IV) now represents one of the largest Direct Lending funds ever raised in Europe and the final close size is at the high end of Arcmont's original target range of €8-10bn, said a press release from the affiliate of investment manager Nuveen.

According to the European credit manager, the direct lending strategy invests in first-lien senior and unitranche loans, as well as second-lien and subordinated loans. The fund has committed about 55% of its capital.

Over more than a decade, the London-based firm has raised more than €28 billion of investable capital across its Direct Lending, Senior Loan, and Capital Solutions strategies and has deployed over €26 billion across more than 350 transactions. "Arcmont's team continues to see a strong pipeline of high-quality deal flow, and the closing of DLF IV provides Arcmont with a significant dry powder to pursue these opportunities," the release said.

Anthony Fobel, CEO of Arcmont Asset Management, said: "Direct lending has an essential role to play in providing financing across the European market. During a time of macroeconomic uncertainty, private debt has demonstrated that it is a reliable and flexible source of capital for many companies an......................

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