Fidelity International, an asset management group which oversees about $750bn, has launched its first direct lending fund with a loan to Dutch dental services company Clinias Dental Group, according to a report by Bloomberg.
Clinias is owned by investment firm Bencis incojunction with its management team.
The report cites a stamens made by Fidelity on Monday as conferring that the loan has been from a new Luxembourg-domiciled fund, which will focus on senior secured loans to mid-market companies, mainly in northern and western Europe, and will align to Sustainable Finance Disclosure Regulation Article 8, Fidelity said in a statement Monday.
Fidelity is the latest asset manager to launch a fund focused on the $1.5tn private credit space, having added about 70 staff to build out its wider private markets business.
