Antares raises $3bn to invest in senior loans

Antares Capital Advisers announced a blockbuster closing of its inaugural Senior Loan Fund with $3 billion in capital coming from a diversified group of institutional investors from the U.S., Canada, Asia and the Middle East. The firm also recently recognized its five-year anniversary of its partnership with CPPIB Credit Investments Inc, the credit unit of the Canada Pension Plan Investment Board, according to David Brackett, CEO of Antares. “COVID-19 has been a stress test for our asset class, and while the story is not fully written yet, it appears that middle market private debt will perform well,” said Brackett. “As a result, we anticipate further growth in our asset management platform.” The Senior Loan Fund was launched in December 2019 and initially had a target of $1.5 billion. Antares overall has $27 billion in assets under management. The fund’s investment objective is to build a portfolio of sponsor-backed senior secured loans to U.S. and Canadian borrowers. Last year, Antares issued approximately $17 billion in financing commitments to borrowers through its products such as first lien revolvers, term loans and delayed draw term loans, second lien term loans, unitranche facilities and equity investments. “The closing of our inaugural fund is a significant milestone in continuing to diversify our investor base, and the ability to do so during the current market environment is a clear testament to the strength of the Antares brand,” said Vivek Mathew, senior managing director and head of asset management at Antares. Mathew added that the firm has implemented a variety of measures to demonstrate alignment of interests with investors. And ultimately when markets turn, he said the team is prepared having a strong track record through various market cycles.

Antares raises $3bn to invest in senior loans

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