The ACCESS Pool – A Collaboration of Central, Eastern and Southern Shires composed of 11 local government pension schemes, with assets totalling c.£52bn – has appointed Arcmont Asset Management (“Arcmont”) and Golub Capital to manage two distinct Senior Secured Direct Lending mandates focusing on European and US markets, respectively.
Arcmont will oversee the European mandate, and with an allocation of c.£200 million. Meanwhile Golub Capital will manage the US mandate, with a commitment of c.£150 million expected for this.
The strategies from Arcmont and Golub Capital will provide senior secured direct loans to corporates with a focus on middle market companies backed by private equity sponsors.
The appointment of our European and US Senior Secured Direct Lending firms followed a competitive process, launched in August 2024 by Apex Investment Advisory, and follows recent allocations by the Pool to other areas of the private markets, including to infrastructure, Social Affordable Housing, and impact real estate.
ACCESS recently announced its intention to establish its own FCA authorised investment management company. Efforts are underway to develop the Investment team which will be responsible for portfolio management, oversight capabilities and enable the pool to provide further value for money and the economies of scale that it has delivered to date.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said: “This allocation to senior direct lending marks the fourth phase of our private markets journey. We were highly impressed with the experience of both Arcmont and Golub Capital, and believe they are well placed to maximise the benefits of this asset class for our partner funds and members.”
“We are honoured by ACCESS’ confidence in our over 20-year-strong direct lending franchise,” said David Golub, President of Golub Capital. “We pride ourselves on delivering consistent, premium returns to our investors through all market cycles.”
Anthony Fobel, CEO at Arcmont Asset Management, said: “We are delighted to have been selected by the ACCESS Pool and recognise the trust shown in us as a steward of this capital. We look forward to working closely with the ACCESS team to the benefit of their partner funds.”
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