(2 August 2024 – Europe) Sumitomo Mitsui Banking Corporation (SMBC) has launched a private credit fund in Europe with a total size of €450 million (approximately US$488.56 million).
The fund will target direct, senior-secured loan investments in middle-market businesses across Europe, according to a press release from the Japanese megabank.
SMBC will collaborate with its subsidiary, Sumitomo Mitsui DS Asset Management Co. (SMDAM), to create investment products for both Japanese and international investors.
SMBC Group will offer finance-related advisory services to the fund.
Campbell Lutyens has been selected as a third-party advisor to assist with the fund’s launch.
SMBC Group cited the anticipated growth in private credit as a key factor in establishing the fund.