LONDON, March 31, 2025 – Proskauer, a leading international law firm, announced today that it advised European credit specialist AlbaCore Capital Group (“AlbaCore”) on the launch of its new Senior Direct Lending Strategy (“the Strategy”), having secured anchor investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and Mitsubishi UFJ Trust and Banking Corporation (the “Trust Bank”)
Proskauer is advising AlbaCore on the fundraise, including the successful first close, which brought together an expected $1.8 billion in investable capital. With the launch of the Strategy, AlbaCore is well positioned to take advantage of the growing opportunity set to finance loans, further expanding its market presence and delivering enhanced value to clients globally.
The Strategy will leverage AlbaCore’s deep knowledge of European corporate capital structures to build a diversified portfolio of senior direct lending investments, focusing on downside protection and delivering attractive risk-adjusted returns. The Strategy will also draw upon AlbaCore’s thorough bottom-up fundamental credit analysis to primarily finance senior private loans in upper-mid to large cap performing European corporates.
The team advising AlbaCore was led by partner James Oussedik and included associates , Josh Jones and Lidia Grasu (Private Funds). The team also included partners Jean Bertrand, David Miller and Frazer Money and associate Emma McDonnell (Tax); partner Robert Sutton and associate Sasha Burger (Private Funds); partner Paul Tannenbaum and associate Cormac Ryan (Finance); partner Adam Scoll (ERISA); partner John Verwey, special regulatory counsel Rachel Lowe and associates Sulaiman Malik and Michael Singh (Regulatory).
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