Antares Capital Clinches $6B for Sophomore Private Credit Fund

Private credit behemoth Antares Capital closed its second credit fund, Senior Loan Fund II, after raising about $6 billion, which includes a co-investment vehicle.

The sophomore fund will leverage Antares’ private credit platform to provide sponsor-backed senior secured loans to US and Canadian borrowers.

Antares said more than 75% of the fund’s asset purchasing power came from institutions that have previously invested with the firm. About 50 institutions committed to the latest fund.

‘In today’s market environment, investors are increasingly selective in their choice of private debt fund managers, so we greatly appreciate the continued vote of confidence from our global investor base.’ said Vivek Mathew, Antares’ head of asset management.

The close follows Antares’ inaugural Senior Loan Fund in December 2019, which had a $1.5 billion target but ultimately closed with $3 billion in capital in 2020.

The $61 billion Chicago-based firm has been expanding its leadership team, recruiting Sheila Brown of Hayfin Capital as managing director. She will cover UK and European investors interested in direct lending and liquid credit solutions.