The announcement names the manager and the two markets but not target size, minimum commitment, fees, liquidity terms or vehicle structure.
Endowus has launched its first standalone European direct lending strategy, managed by CVC, open to investors in Singapore and Hong Kong.
The announcement does not state the strategy's target size, minimum commitment, fees, liquidity terms or vehicle structure.
Reported by The Wrap desk from Private Credit Daily newsroom tracking and Private Credit Daily newsroom tracking. Published . Corrections
The evergreen vehicle targets pension funds, insurers and sovereign wealth funds.
The US dollar note, issued by PM Alpha Designated Activity Company, carries a $50,000 minimum and is not offered in the United States or to US persons.
The CVC-backed vehicle is open to investors in Singapore and Hong Kong, but the announcement omits target size, minimum commitment, fees, liquidity terms and vehicle structure.
Apollo and other new minority shareholders expect to commit an aggregate $5 billion to the manager's strategies at an initial close.
Initial reports did not include wrapper, fee, minimum or redemption terms for either channel.
Direct lending, asset-based finance, BDCs and evergreen credit funds. Daily at 7:15 a.m. ET.
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