The latest news in investment offering, financial products and other services relative wealth advisors and their clients.

Pantheon, the firm owned by US-listed AMG, has launched a fund that seeks to make money out of secondary private credit investments in the US.

The offering is called the AMG Pantheon Credit Solutions Fund. It adds to Pantheon’s global “evergreen” platform that includes the $2.3 billion AMG Pantheon Fund, one of the largest registered private equity funds in the US.

As private market investing has grown, so has the need for investors to buy and sell stakes in existing holdings. Such markets encourage price discovery, and the promise of more liquidity makes investors feel more comfortable about entering a field. The secondaries market accounted for $108 billion in volume in 2022, according to Jeffries, the investment and advisory firm.

Pantheon, which has been investing in private markets secondaries since 1988, launched what it said was the world’s first dedicated credit secondaries fund in 2018. It looks after more than $3 billion of assets in this area. Founded in 1982, Pantheon had $93.4 billion of assets under advice and management at the end of March this year,

Muzinich & Co
Muzinich & Co has launched MLoan, a semi-liquid European private debt strategy, as a Luxembourg SICAV entity.

Managed by Muzinich’s private debt team, the fund is a diversified, income-generating strategy that primarily invests in private European bank loans.

The fund aims to capture a private credit illiquidity premium, whilst allowing investors to redeem on a quarterly basis. It targets high single-digit net returns and is an “evergreen” strategy that will remain open to new subscriptions and redemptions, as opposed to traditional private credit strategies which are illiquid and closed-ended.