Asian wealth manager Endowus has launched its first standalone European direct lending strategy, backed by private markets firm CVC.

The strategy is open to investors in Singapore and Hong Kong and gives them access to European private credit beyond the US, the Singapore-based firm said.

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“While the European lending space has provided significant opportunity in the market through the years, direct lending strategies available for private wealth clients have largely focused on the US, hence securing access for our clients across geographies is part of a broader effort to democratise access to alternatives, alongside our continued focus on making retirement savings work harder for all investors,” said Hugh Chung, chief investment officer at Endowus.

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Endowus said the European market was fragmented, but its partnership with CVC, one of the largest alternative managers in the space with €52bn (£44.1bn) across its credit platform, would give it access to the region.

“CVC is one of the longest-standing European alternatives players, and we are excited to be partnering with them to give our clients differentiated and attractive risk-adjusted returns driven by the unique local dynamics and diverse geographies across Europe,” said Samuel Rhee, chairman and group chief investment officer of Endowus.

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