King Street Capital is preparing to launch a new private credit fund, backed by a $70m investment from Generali Investments, the asset management division of the Italian insurance company Generali, according to a report by Bloomberg.
King Street, which manages over $27bn in assets, joins other firms targeting European opportunities in the rapidly growing private credit market, which has attracted major global investors in recent years.
According to documents, as much as half of the fund could be allocated to the region, with the firm aiming to deliver returns exceeding 10% to its investors.
The fund will allocate up to 80% towards corporate and asset-based lending, with the remainder focused on what the firm refers to as dislocated credit opportunities and distressed credit.
It will be launched in collaboration with Lumyna, an investment platform owned by Generali.
