Pantheon has launched a brand new non-public credit score secondaries-focused fund for the US non-public wealth market.
The worldwide investor mentioned that the AMG Pantheon Credit score Options Fund (PSECC) will construct “a diversified portfolio of high-quality non-public credit score investments, with the potential to generate robust, risk-adjusted whole returns and a lovely revenue stream.”
The fund will supply buyers non-public credit score publicity, diversified by supervisor, classic yr, trade sector and firm.
Learn extra: New period for alternate options as buyers flock to mounted revenue
Pantheon highlighted the speedy evolution of personal markets secondaries, fuelled by the substantial progress in non-public credit score over the previous decade. Personal markets secondaries – primarily a secondary marketplace for non-public debt – service growing demand for liquidity from buyers.
“We’re enthusiastic about extending our place in non-public credit score secondary options to this essential and rising shopper channel,” mentioned Rakesh (Rick) Jain (pictured), Pantheon associate and international head of personal credit score.
“We see a robust alternative for buyers to capitalize on the supply-demand imbalance of capital and experience on this house, much like the evolution of secondaries throughout non-public fairness, infrastructure and actual property.”
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Pantheon has greater than $3bn (£2.44bn) in shopper property devoted to personal credit score secondaries, as a part of a wider non-public credit score apply which has $6.7bn in property beneath administration or recommendation.
PSECC is the second automobile launched inside Pantheon’s US non-public wealth division and can sit alongside the AMG Pantheon Fund, a non-public fairness fund with round $2.3bn in property beneath administration.
Learn extra: Buyers look to extend allocations to personal debt
“We’ve got heard from the non-public wealth neighborhood that demand for personal credit score funds is more and more targeted on addressing considerations round inflation, rising charges, credit score defaults and the continued want for enhanced revenue,” mentioned Michael Hutten, Pantheon associate and head of US non-public wealth.
“We imagine the distinctive mixture of diversification, revenue and whole returns in non-public credit score secondaries gives a compelling, differentiated allocation answer for buyers.”
