Lloyd’s launches new US direct lending fund
Lloyd’s investment platform has announced the launch of a new US direct lending fund, which will offer access to US middle-market direct lending opportunities.
This is the second private asset product to be launched by the insurance giant, following the Lloyd’s private impact fund in April 2023.
On behalf of Lloyd’s, Schroders Capital underwent a full screening of US direct lenders before choosing Maranon Capital to manage the fund strategy. Maranon has over 16 years’ experience investing in more than 400 US middle market direct lending transactions to date.
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“Through the new fund on our investment platform, we are providing the Lloyd’s market with seamless access to the US mid-market lending space,” said Eleanor Bucks, chief investment officer at Lloyd’s.
“With the expertise of our partners at Schroders and Maranon, we are confident that this latest initiative will provide another significant investment opportunity for the Lloyd’s market.”
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Insurer Canopius has been named as the cornerstone investor for the fund, alongside the Lloyd’s central fund.
“The launch of this new fund represents a valuable expansion of investment opportunities for our capital deployed in the Lloyd’s market,” said Gareth Russell, group chief investment officer at Canopius.
“Access to tailored investment solutions such as the US direct lending fund is an attractive development at Lloyd’s, and we are pleased to support this.”
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