Jefferies Credit Partners is looking to raise €1 billion ($1.16 billion) for a new fund focused on private credit investments in the secondary market.
Structured as a continuation vehicle, or staple deal, the fund would purchase loans previously originated by Jefferies Credit Partners while also putting capital toward new lending opportunities, Bloomberg reported, citing sources familiar with the deal.
The fund is expected to have about €500 million ($584 million) tied to investor equity and another €500 million tied to leverage. Jefferies advised on the transaction, and the fund will allow capital to be reinvested on an ongoing basis, Bloomberg added.
Private Credit Secondaries Gain Momentum
The private-credit secondaries market has been expanding quickly, as a growing subset of investors are utilizing the secondary market to address a broad range of liquidity and portfolio management needs, according to a report from Ares Management.
