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Guggenheim looking to raise $1.5bn for new private credit fund

Guggenheim Investments, Guggenheim Partners’ asset management business, is targeting a fundraise of least $1.5bn for its newest private credit fund, according to a report by Bloomberg, citing people with knowledge of the matter.

Bloomberg’s sources have revealed that the firm, which manages more than $224bn, has already started discussions with potential investors, with executives Joe McCurdy, Kevin Gundersen and Rusty Parks leading the fundraising effort.

Alternative asset managers are increasingly looking to raise private credit funds to provide lending to borrowers previously served by banks. According to data from Preqin, globally, 34 private credit funds raised $71.2 billion in the quarter ended 30 June.

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