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SubscribeThe ACCESS pool is on the lookout for managers for two senior secured direct lending strategies worth a combined £350m.
ACCESS, which has assets totalling £45bn on behalf of its 11 participating pension funds, anticipates allocating initial commitments of £200m for a European mandate and £150m for a US strategy.
The Local Government Pension Scheme pool stated that subsequent allocations are expected for both mandates.
ACCESS stated that both mandates will provide senior secured direct loans to corporates with a “focus on the core middle market, to a mainly private equity sponsor-backed borrower base”.
Managers have until 2pm on 6 September to submit their proposals.
This comes as ACCESS committed £125m to Legal & General to manage its affordable housing mandate in July.
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