Arcmont eyes up to EUR 10bn in new money for European direct lending strategy

Josh O'Neill
09 August 2023

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Arcmont is seeking to secure up to EUR 10bn for its European direct lending strategy under a fresh fundraising drive following its takeover by Nuveen, three sources familiar with the situation said.

The private debt provider is aiming to raise EUR 8bn–EUR 10bn, according to all sources – a significant step up from the EUR 6bn it netted for its previous European direct lending fund.

Arcmont is aiming to finalise the fundraise by the end of this year, the first two sources said.

Arcmont’s deepening push into Europe’s private credit market follows its acquisition by Nuveen, the investment arm of TIAA, in March. Under the deal, Arcmont joined forces with Nuveen-backed Churchill Asset Management, lifting the parent group’s global alternative credits assets under management to USD 178bn.

Arcmont’s latest fundraising efforts – if successful – would bring the firm in line with the likes of Ares and ICG, each of which is raising blockbuster funds of EUR 10bn-plus for their European direct lending strategies.

Arcmont most recently raised EUR 800m for its debut capital solutions strategy in September last year, exceeding its initial target of EUR 500m–EUR 750m.

Founded in 2011 as the private debt division of BlueBay Asset Management, Arcmont has raised more than USD 26bn of capital and has committed more than USD 24bn to more than 270 transactions across Europe since inception.

Arcmont declined to comment.