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DWS European direct lending fund hits first closing

Frankfurt-based DWS has announced the first close of its new closed-ended European Direct Lending fund, achieving first commitments of about €350m from investors across Europe and Asia including family offices, insurance and pension asset managers.

The fund is expected to be a third invested at first close and is targeting a final close of €500-€700m by year end.

Deutsche Bank-owned DWS manages about €130bn across investment grade, hybrid, high yield and bank loan strategies.

The Fund will co-invest alongside Deutsche Bank’s European Direct Lending business into senior, European mid-market private loans.

Marcus Herbig, head of structured income at DWS, said: “We set out to provide investors with a highly differentiated offering which has been validated by the breadth and calibre of investors, including first-time Direct Lending investors that have chosen to invest with us in the strategy.”

Deutsche Bank’s European Direct Lending business is a part of its Global Financing & Credit Trading unit and has led investments of more than €5bn across senior and opportunistic credit since 2012.

David Robinson

David Robinson is the editor of Expert Investor. He has 18 years’ experience as a business journalist and editor. In the past he has written for the Guardian newspaper and The Telegraph, and worked as...

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