Nikko AM launches LBO fund
Nikko Asset Management has launched a new leveraged buyout (LBO) fund in Australia, the Nikko AM Australian LBO Loan Fund (LBO Loan Fund).
The $300 million fund, which was established on behalf of a cornerstone Japanese institutional investor, would invest in syndicated bank loans supporting leveraged buyouts of Australian businesses, backed by private equity.
The new fund would be managed by senior portfolio manager, loans and credit, Leo Leslie.
The launch of a new fund would also enable the company to “harness its expertise in specialist credit”, it said.
Nikko AM Australia’s managing director, Sam Hallinan said: “We are excited to be able to establish this private debt capability in Australia, which recognises a strong demand from institutional investors who want to access the return profile of private markets.
“Nikko AM has developed a leadership position in specialist credit over many years and the new LBO fund will enable us to tap this expertise and continue this momentum.”
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
