Mubasher: The Credit Management business of Investcorp has held the final close of the Mount Row Credit Fund with capital commitments of EUR 318 million ($353.4 million).
The fund has exceeded its original target of raising EUR 300 million, according to a press release issued Monday.
Investcorp Credit Management aims to maintain its investment strategy of actively managing a diversified portfolio of large-cap European secured loans, with a focus on targeting European issuers with average annual earnings before interest, tax, depreciation and amortization (EBITDA) of more than EUR 200 million.
Moreover, the fund focuses on sectors and businesses that it views as less prone to the impacts of the new coronavirus (COVID-19) pandemic.
Mount Row has already deployed approximately 35% of the committed capital, Investcorp revealed.
“The loan market has dislocated and performing senior secured loans are trading at levels not experienced since the Global Financial Crisis (GFC) in 2008. We believe that these conditions have created attractive investment opportunities that we are strongly positioned to capitalize on with our talent, expertise and long track record of investing in European senior secured loans,” said Jeremy Ghose, Global Head of Investcorp Credit Management.
It is worth noting that Investcorp’s Credit Management has assets under management (AUM) of around $13 billion.
