Arcano Partners es la firma independiente de asesoramiento financiero de referencia con oficinas en Madrid, Barcelona y Nueva York. La empresa lanza un fondo de Direct Lending español dedicado esencialmente al mercado español con un objetivo de captación de entre 100 y 150 millones de euros que se iba a lanzar en marzo de 2020.
Direct Lending is a direct form of financing to companies, without the intermediation of financial institutions. Its actors are investment funds, which grant loans to companies with the aim of obtaining a return on their investors' capital.
The Direct Lending fund could not be launched in March 2020, as the pandemic put the spotlight on the demand for alternative financing. Companies were looking for avenues of financing for growth (capex), acquisitions), LBOs or refinancings with or without amortising bank debt.
As a result, Arcano Private Debt, the first closed-end vehicle dedicated exclusively to Direct Lending (private debt) from Arcano's credit area, was delayed, although the firm has experience in this area, having invested in fifteen transactions in recent years from other Arcano Credit vehicles.
The primary objective of Arcano Private Debt is to provide attractive risk-adjusted returns by providing financing to companies. The average duration of the portfolio is between 3 and 4 years. There is no predetermination as to the credit quality of the FS portfolio and therefore it may have 100% of the total exposure in low credit quality fixed income.
Esta división cuenta con seis fondos de crédito europeo con más de 1.400 millones de euros gestionados, tres de ellos en formato abierto, invertidos principalmente en bonos ‘high yield’ y préstamos sindicados líquidos, y otros tres en formato cerrado, dedicados a oportunidades de crédito, ‘revolving facilities’ y deuda privada.