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AlbaCore Capital closes first fund at €1.5 billion

AlbaCore Capital closed its first credit fund at €1.5 billion ($1.8 billion), above its €1 billion target, the European manager said in a news release Thursday.

The fund, AlbaCore Partners I, focuses on private debt and opportunistic credit investments across primary and secondary markets.

Investors included PSP Investments, which manages the C$139.2 billion ($107.9 billion) Public Sector Pension Investment Board, Ottawa, and other undisclosed pension funds, endowments and sovereign wealth funds across North America, Europe, the Middle East and Asia.

A spokesman could not immediately be reached to provide additional details.