Babson Capital Said to Raise $2 Billion for Private Loan Funds

Babson Capital Management LLC has raised more than $2 billion from institutional investors including sovereign wealth funds and family offices for its global private-loan strategy, according to two people with knowledge of the matter.

The U.S. asset manager closed its most recent round of fundraising after winning mandates from 20 institutions across Europe, the U.S. and Asia in the past 12 months, said the people, who asked not to be identified because the information is private. About $900 million has already been deployed, they said.