Natixis SA is in discussions to launch a $1.5bn private credit fund focused on direct lending, as the French investment bank seeks to expand its footprint in the fast-growing private credit market, according to a report by Bloomberg citing people familiar with the matter.
The proposed vehicle will target senior and unitranche loans to highly leveraged corporates, enabling Natixis to scale its lending activity beyond its balance sheet. The bank is expected to act as fund manager, leveraging its existing direct lending capabilities while tapping external capital, the sources said.
The fundraising is currently underway and is expected to conclude in the coming months. The structure and timing of the fund may still evolve, the sources cautioned.
The move comes as traditional lenders step up efforts to access the $1.6tn global private credit market, either through fund launches or strategic partnerships. Recent examples include Citigroup’s alliance with alternative asset managers and Sumitomo Mitsui Banking Corp’s European private credit vehicle, launched last year.
Natixis has historically pursued direct lending via its balance sheet, typically committing up to $25m per transaction in mid-market borrowers viewed as future candidates for the syndicated leveraged loan market, according to a report by Ducera Partners.
