ACCESS Pool, Essex, England, has named Arcmont Asset Management to oversee a £200 million ($259 million) European mandate and Golub Capital to oversee a £150 million U.S. mandate for two discrete senior secured direct lending strategies, according to a news release.
The strategies from Arcmont and Golub Capital are expected to provide senior secured direct loans to corporates with a focus on middle market companies backed by private equity sponsors.
The appointment of the firms followed a tender process launched in August by Apex Investment Advisory, and follows recent allocations by ACCESS to other areas of the private markets including infrastructure, social housing and impact real estate.
ACCESS recently announced its intention to establish its own investment management company authorized by the U.K.’s Financial Conduct Authority. It is also looking to develop an investment team which will be responsible for portfolio management and oversight capabilities.
“This allocation to senior direct lending marks the fourth phase of our private markets journey," said Mark Kemp-Gee, chairman of the ACCESS joint committee, in a news release. "We were highly impressed with the experience of both Arcmont and Golub Capital, and believe they are well placed to maximize the benefits of this asset class for our partner funds and members.”
The ACCESS Pool, (A Collaboration of Central, Eastern and Southern Shires) is composed of 11 local government pension plans, with assets totaling £52 billion.
