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Laxman Pai, Opalesque Asia: London-based private credit manager LCM Partners has raised €3.8 billion ($4.5bn) at the first close of its latest flagship strategy, Credit Opportunities 5 (COPS 5), moving closer to its €6 billion target.
The commitments span both the commingled fund and single-investor managed accounts, underscoring continued investor confidence in LCM's Credit Opportunities Strategy. Brookfield, LCM's long-standing strategic partner, contributed an additional €600 million, bringing its total commitment to the strategy to €1.2 billion.
LCM counts some of the world's largest institutional investors among its backers, including pension funds, insurers, sovereign wealth funds and endowments across Europe, North America and Asia.
Paul Burdell, chief executive of LCM Partners, said the first close marks a "significant milestone" for the strategy. "The trust and loyalty of our clients, together with an increased commitment from Brookfield, is a testament to the resilience and success of our strategy," he said, adding that ongoing bank retrenchment and regulatory-driven loan sales continue to fuel opportunities in European consumer and SME credit.
Craig Noble, CEO of Brookfield Credit, described the raise as evidence of LCM's "deep relationships with global investors" and the strength of its predominantly asset-backed approach.
LCM Partners, part of the LC Financial Holdings Group, specialises in acquiring granular consumer and sma...................... To view our full article Click here
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