BlueBay Asset Management closed its Direct Lending Fund III, a European direct lending fund, at €6 billion ($6.8 billion), a spokeswoman said.
The fund provides financing to upper and mid-market European businesses, growth financing and refinancings. At the final close, the fund had committed about €900 million across seven transactions.
Investors in the fund include the $13.9 billion Ohio School Employees Retirement System, Columbus; the $8.8 billion New Hampshire Retirement System, Concord; and the $13.1 billion New Mexico Educational Retirement Board, Santa Fe. The fund's target was not disclosed.
