Brookfield-Backed LCM Seeks €6 Billion for Private Debt Fund
- LCM Partners already has indicative interest for €3.3 billion
- Fund will partly invest in European non-performing loans
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LCM Partners Ltd., an alternative asset manager partly owned by Brookfield Asset Management, is raising €6 billion ($6.5 billion) for a new fund that will partly invest in non-performing loans.
London-based LCM has received €3.3 billion of indicative interest from investors for its Credit Opportunities 5 fund since marketing efforts began in June, according to Chief Executive Officer Paul Burdell. The firm targets an annual internal rate of return of 15% for the fund, which will also invest in performing and rescheduled loans to individuals and small- and mid-size companies.