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Laxman Pai, Opalesque Asia: Alternative credit manager Antares Capital announced the launch of Antares Private Credit Fund (ABDC), a public, non-traded business development company (BDC) with more than $1.4 billion in investable capital.
The Chicago, Illinois-based private venture capital firm with $80 billion in capital under management and administration said in a media release that new and existing global investors in the Fund include insurance companies, banks, family offices and pension plans, and Antares' majority owner, Canada Pension Plan Investment Board (CPP Investments).
ABDC seeks to offer investors an opportunity to generate current income and attractive risk-adjusted returns, said the release.
"The Fund invests primarily in senior secured floating rate loans to private-equity owned, U.S. middle-market companies," it said. ABDC is managed by Antares Capital Credit Advisers LLC and will be available through financial advisors across the United States, once all state registrations are complete.
Vivek Mathew, Chief Executive Officer and President of ABDC said, "High-net-worth investors are seeking better diversification and attractive risk-adjusted returns, and we're thrilled to expand access to our cycle-tested credit platform. By leveraging our expertise from origination to portfolio management, we aim to deliver tailored solutions that create lasting value for the private wealth community."
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