Lloyd’s funding platform has introduced the launch of a brand new US direct lending fund, which is able to supply entry to US middle-market direct lending alternatives.
That is the second non-public asset product to be launched by the insurance coverage big, following the Lloyd’s non-public impression fund in April 2023.
On behalf of Lloyd’s, Schroders Capital underwent a full screening of US direct lenders earlier than selecting Maranon Capital to handle the fund technique. Maranon has over 16 years’ expertise investing in additional than 400 US center market direct lending transactions up to now.
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“Via the brand new fund on our funding platform, we’re offering the Lloyd’s market with seamless entry to the US mid-market lending house,” mentioned Eleanor Bucks, chief funding officer at Lloyd’s.
“With the experience of our companions at Schroders and Maranon, we’re assured that this newest initiative will present one other vital funding alternative for the Lloyd’s market.”
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Insurer Canopius has been named because the cornerstone investor for the fund, alongside the Lloyd’s central fund.
“The launch of this new fund represents a helpful growth of funding alternatives for our capital deployed within the Lloyd’s market,” mentioned Gareth Russell, group chief funding officer at Canopius.
“Entry to tailor-made funding options such because the US direct lending fund is a lovely improvement at Lloyd’s, and we’re happy to assist this.”
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