BlueBay closes second debt fund on €2bn

The investor stated that the fundraising was completed in less than a year.

BlueBay's previous vehicle, Direct Lending Fund, reached a final close in May 2012 after one year on the road, exceeding its initial €500m target and reaching €800m.

Fried Frank was mandated by BlueBay for the fundraising process.

Investors
A vast majority (80%) of investors in Direct Lending Fund II were committed to BlueBay's previous vehicle as well. The first Direct Lending Fund received commitments from pension funds, insurance companies and family offices.

The second fund drew investors from the US, Europe and Asia.

Investments
The fund will provide financing to medium-sized European businesses, by investing in senior secured and selected subordinated loans, with the ability to underwrite tickets of up to €200m.

By the time of the final close, 25% of the fund was already committed.

People
Anthony Fobel is head of private debt at BlueBay.

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• Topics
• Debt
• UK / Ireland
• United Kingdom
• Senior debt