Russell Investments launches evergreen fund for UK investors

Russell Investments has launched an evergreen fund which aims to provide professional investors in the UK with exposure to global private credit markets.

The evergreen structure of the fund means that investors may be able to receive quarterly liquidity of up to five per cent of NAV after the investment period.

The fund is targeting an annualised net return of eight per cent over its market cycle. It is available to professional investors in based in the UK and will invest through selected managers to access a diversified range of private credit exposures.

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This will include North American and European asset-backed and direct lending allocations as well as real estate debt and other opportunities.

“Private credit has been an asset class ‘in vogue’ for some time, with investors keen to access the improved returns and lower drawdowns on offer relative to those available via public markets,” said Keith Brakebill, a senior portfolio manager at Russell Investments.

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“However, investors have historically been limited by their ability to access the asset class effectively and have had to do so by focusing on specific sub-segments rather than via a broad exposure.

“In launching [the fund], we are able to offer a compelling solution to investor needs, allowing clients to access a diversified portfolio of private credit assets in a single investment which can generate income and long-term capital appreciation.”

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