Bluebay spinout Arcmont Asset Management launches

The new business is an independent entity – with €13bn in assets under management – and is backed by a minority investment from Dyal Capital Partners. The majority of the business will be owned by the team.

The 50-strong team will continue to be led by Anthony Fobel, who founded Bluebay's private debt business in 2011.

Arcmont has a legacy €13bn in assets under management comprising direct lending and senior loan positions, which will now be complemented by a new capital solutions strategy for underperforming businesses. This includes Bluebay Direct Lending Fund III, which held a final close in February 2019 on €6bn. The fund will predominantly make investments in northern Europe to borrowers with an enterprise value of up to €2bn and revenues of €50m-1bn. The vehicle provides senior, unitranche and subordinated debt, with a focus on senior loans.

This will target assets across Europe, giving them additional time and expertise to recover and grow their businesses. David Brooks from Bain Capital Credit and Alice Cavalier from Pimco will join Arcmont in January 2020 and head up the strategy.

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• Topics
• Credit/Special Situations
• UK / Ireland
• GPs
• Senior debt
• UK Funds