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Money Management

BlueBay closes European direct lending fund with $6.8 billion in commitments

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.