ACCESS Pool hires Arcmont and Golub to manage direct lending strategies
The ACCESS Pool – a group of 11 local government pension schemes, with assets totalling £52bn – has appointed Arcmont Asset Management and Golub Capital to manage two senior secured direct lending strategies.
Arcmont will oversee the European mandate, with an allocation of £200m.
Golub Capital will manage the US mandate, with a commitment of £150m.
The strategies will focus on providing senior secured loans to sponsor-backed, mid-market companies.
Read more: Arcmont launches impact lending strategy
The appointment of the two asset managers followed a competitive process, launched in August 2024 by Apex Investment Advisory, and follows recent allocations by ACCESS to other areas of private markets including infrastructure, social affordable housing and impact real estate.
ACCESS recently announced its plans to launch its own Financial Conduct Authority-authorised investment management company. It is establishing an investment team that will be responsible for portfolio management and oversight capabilities.
“This allocation to senior direct lending marks the fourth phase of our private markets journey,” said Cllr Mark Kemp-Gee, chairman of the ACCESS Joint Committee.
“We were highly impressed with the experience of both Arcmont and Golub Capital, and believe they are well placed to maximise the benefits of this asset class for our partner funds and members.”
Read more: Arcmont receives green light to launch private credit LTAF
ACCESS (A Collaboration of Central, Eastern and Southern Shires) is made of 11 LGPS Administering Authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.
“We are honoured by ACCESS’ confidence in our over 20-year-strong direct lending franchise,” said David Golub, president of Golub Capital. “We pride ourselves on delivering consistent, premium returns to our investors through all market cycles.”
Anthony Fobel, chief executive at Arcmont Asset Management, said: “We are delighted to have been selected by the ACCESS Pool and recognise the trust shown in us as a steward of this capital. We look forward to working closely with the ACCESS team to the benefit of their partner funds.”
Read more: Golub Capital saw record investment inflows in 2024
