Fonte immagine: Freepik
LCM Partners, an alternative asset manager whose capital includes Brookfield Asset Management, is looking to raise €6 billion for its new Credit Opportunities 5 fund, which will focus on investing in European NPLs.
Since it began its fundraising efforts in June – explains Private Equity Wire – LCM has already received expressions of interest of €3.3 billion from investors, according to CEO Paul Burdell. The fund, which aims to provide an annual internal rate of return of 15%, will also target performing and rescheduled loans to individuals and small and medium-sized enterprises. The fund will refrain from using leverage when acquiring NPL portfolios, but a debt investment component will instead be present in the case of rescheduled performing loans. LCM plans to invest in loans through forward-flow arrangements, where assets are purchased on a recurring basis for a defined period. The company currently has 27 such agreements with European financial institutions and expects the first fund close in March.
LCM is controlled by its founders and management team, including Burdell, with Brookfield holding a 49.9% stake.
