Muzinich & Co Inc has closed its first private credit fund dedicated to the Asia Pacific region with $500 million in capital commitments from institutional investors (80%) and family offices (20%), according to a report by Bloomberg.
The report cites Munich & Co’s regional chief executive officer Andrew Tan, who also leads the private credit business, as confirming that half of the commitments are from Asia-based investors, with Singapore’s DBS Group Holdings Ltd serving as the fund’s anchor investor with a $200 million commitment.
According to Tan, since launching in 2021, the Muzinich Asia Pacific Private Debt I fund has lent around 35-40% of its money to eight entities, located in Australia, India, and Hong Kong. He declined to cite specific names.
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The fund is classified as an Article 8 financial product under European Union rules, and as such does not invest in sectors such as thermal coal, gambling, distilled alcohol, and munitions.
Source: Private Equity Wire
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