Invesco Non-public Credit score has introduced the shut of its second direct lending fund with $1.4bn (£1.1bn) of investable capital.
The Invesco Direct Lending Fund II will originate senior secured loans of sponsored, core center market firms primarily in North America, which have EBITDA of between $20m and $75m.
The technique prioritises capital preservation, with a deal with disciplined asset choice and rigorous underwriting, Invesco Non-public Credit score mentioned.
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It targets center market firms which might be well-established, have confirmed enterprise fashions of secure money era, and function in industries with beneficial long-term traits.
“Our devoted direct lending workforce is a part of the $48bn Invesco Non-public Credit score platform with deep assets and experience constructed over its 36-year historical past,” mentioned Scott Baskind, chief funding officer and international head of Invesco Non-public Credit score.
“The direct lending workforce’s capabilities and expertise have made the group a trusted companion within the core center market with main non-public fairness sponsors looking for versatile financing and traders looking for compelling sources of risk-adjusted returns.”
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“We’re grateful to our traders for his or her help and partnership as we proceed to capitalize on the engaging alternatives on this rising asset class,” added Ron Kantowitz, managing director and head of direct lending at Invesco Non-public Credit score.
“We proceed to see vital market and financial tailwinds which, mixed with document sums of capital raised within the non-public fairness sector, ought to drive sturdy M&A exercise and create the chance to deploy capital in prime quality firms.”
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