Invesco Private Credit has announced the close of its second direct lending fund with $1.4bn (£1.1bn) of investable capital.
The Invesco Direct Lending Fund II will originate senior secured loans of sponsored, core middle market companies primarily in North America, which have EBITDA of between $20m and $75m.
The strategy prioritises capital preservation, with a focus on disciplined asset selection and rigorous underwriting, Invesco Private Credit said.
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It targets middle market companies that are well-established, have proven business models of stable cash generation, and operate in industries with favourable long-term trends.
“Our dedicated direct lending team is part of the $48bn Invesco Private Credit platform with deep resources and expertise built over its 36-year history,” said Scott Baskind, chief investment officer and global head of Invesco Private Credit.
“The direct lending team’s capabilities and experience have made the group a trusted partner in the core middle market with leading private equity sponsors seeking flexible financing and investors seeking compelling sources of risk-adjusted returns.”
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“We are grateful to our investors for their support and partnership as we continue to capitalize on the attractive opportunities in this growing asset class,” added Ron Kantowitz, managing director and head of direct lending at Invesco Private Credit.
“We continue to see significant market and economic tailwinds which, combined with record sums of capital raised in the private equity sector, should drive robust M&A activity and create the opportunity to deploy capital in high quality companies.”
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