AlbaCore Launches US$1.8 Bln Senior Direct Lending Strategy With ADIA, Trust Bank Backing

KUALA LUMPUR, March 27 (Bernama) -- European credit specialist AlbaCore Capital Group (AlbaCore) has launched its new Senior Direct Lending Strategy (the Strategy), having secured anchor investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and Mitsubishi UFJ Trust and Banking Corporation (the Trust Bank).

In a statement, AlbaCore said the firm has successfully completed its first close, bringing in an expected US$1.8 billion in investable capital. (US$1=RM4.42)

The Strategy positions AlbaCore to capitalise on the growing market opportunity in loan financing, further expanding its global presence and delivering enhanced value to clients.

AlbaCore Managing Partner and Chief Investment Officer, David Allen highlighted that the backing from ADIA and Trust Bank reflects the appeal of the Strategy and AlbaCore's ability to take advantage of the opportunity.

Meanwhile, ADIA Executive Director of the Private Equities Department, Hamad Shahwan AlDhaheri, emphasised the importance of the anchor commitment in deepening its relationship with AlbaCore, noting the Strategy’s potential to meet the growing demand for private credit solutions in Europe.

On the other hand, the Trust Bank Chief Executive, Asset Management & Investor Services Business Unit, Takafumi Ihara expressed excitement about supporting the Strategy, aligning with the bank’s global asset management business in expanding private product competitiveness in the direct lending market.

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The Strategy will leverage AlbaCore’s deep knowledge of European corporate capital structures to build a diversified portfolio of senior direct lending investments, focusing on downside protection and delivering attractive risk-adjusted returns.

It will also draw upon AlbaCore’s thorough bottom-up fundamental credit analysis to primarily finance senior private loans in upper-mid to large-cap performing European corporates.

-- BERNAMA