Antares Capital closed its latest credit fund with $6 billion, which includes a co-investment vehicle.
Senior Loan Fund II (SLF II) will have a diverse portfolio of sponsor-backed senior secured loans to U.S. and Canadian borrowers. The fund close follows the launch of Antares’ inaugural Senior Loan Fund in December 2019, which had a $1.5 billion target but ultimately closed in 2020 with $3 billion in capital.
Over 75% of the SLF II asset purchasing power comes from institutions that have previously invested with Antares, signaling that investors continue to turn to the firm for a strong pipeline of attractive investment opportunities, officials said. About 50 institutions committed to the latest fund.
“We believe that the demand we experienced from investors as part of this fundraise demonstrates the effectiveness of our time-tested approach,” said Vivek Mathew, head of asset management at Antares. “In today’s market environment, investors are increasingly selective in their choice of private debt fund managers, so we greatly appreciate the continued vote of confidence from our global investor base.”
The $61 billion firm has been in expansion mode recently hiring Hayfin Capital’s Sheila Brown as managing director, as Antares’ first employee outside of North America. She has been charged with covering U.K. and European investors interested in direct lending and liquid credit strategies.
“We are thrilled with both the total funds raised and the mix of new and existing investors from across the globe,” said Timothy Lyne, CEO of Antares Capital. “We are pleased to continue offering investors the opportunity to diversify their portfolios through access to our originated loans, which we believe can offer attractive risk-adjusted returns.”