LGT backs Guggenheim’s $250m private debt fund
Guggenheim Investments has closed a $250m (£186.4m) private debt vehicle backed by LGT Capital Partners.
The fund commitments were led by LGT Capital Partners, alongside investments from other limited partners, Guggenheim said.
LGT Capital Partners said the partnership with Guggenheim Investments would help expand its investor base within the private credit market.
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“We are excited to announce this new partnership with LGT Capital Partners,” said Joe McCurdy, head of origination at Guggenheim Corporate Funding, the private debt investment manager of Guggenheim Investments. “We see the continued expansion of our limited partner relationships as a testament to the strength and differentiation of our platform and underwriting strategy.”
Guggenheim currently has $357bn of assets under management across fixed income, equity and alternative strategies.
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“This opportunity underscores our capabilities in acquiring portfolios of private credit loans and our commitment to providing primary fund capital to credit managers with a proven track record in private credit,” said Felix Janssen, partner and co-head of private credit solutions at LGT Capital Partners.
LGT Capital Partners is an alternative asset manager with $120bn of assets under management.
“We are honoured by the continued trust that top-tier global investors place in our private debt capabilities,” said Dina DiLorenzo, president of Guggenheim. “We believe this partnership with LGT Capital Partners and our expanding investor base reflect both the quality of our platform and our strategic positioning as a leader in private credit markets.”
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