TwentyFour Asset Management is making a move into the booming private credit space, with the British firm set to launch its debut fund, a Europe-focused vehicle, later this year, according to a report by Bloomberg.
The report cites Partner Douglas Charleston, the head of the new fund, as confirming that the fixed income-focused money manager is looking to raise a mid-sized vehicle that will look to provide capital in niche areas such as for non-bank mortgage lenders.
The new private credit fund will operate as part of TwentyFour AM’s flagship asset-backed securities team, which is co-headed by Charleston.
According to its website, TwentyFour AM, a boutique of Swiss-based Vontobel Group, has £17.7bn ($22.1bn) of assets under management.
