LCM Partners has secured €3.8 billion ($4.5 billion) in commitments for the first close of its Credit Opportunities 5 fund, setting the stage for the London-based private credit manager to achieve its €6 billion ($7.1 billion) target. The fundraising includes commitments across the flagship vehicle and single investor managed accounts, following the firm’s prior Credit Opportunities fund, which closed at €4.1 billion in April 2023. 

Brookfield Asset Management, a long-standing strategic partner of LCM since 2018, increased its commitment to the strategy by €600 million ($710 million), bringing its total investment to €1.2 billion ($1.42 billion). Brookfield’s broader network of credit partners — including Oaktree Capital Management, Castlelake, Primary Wave, and 17Capital — raised $10 billion collectively in the second quarter. 

“The trust and loyalty of our clients, together with an increased commitment from Brookfield, is a testament to the resilience and success of our strategy,” said Paul Burdell, CEO of LCM Partners. Craig Noble, CEO of Brookfield Credit, added that the strong first close “highlights the strength of their private credit origination platform and deep relationships with global investors.” 

Founded in 1999, LCM Partners specializes in acquiring portfolios of consumer and small business loans across Europe. The firm, part of LC Financial Holdings Group, employs nearly 2,000 professionals across 25 offices in 11 countries and manages over €120 billion ($142 billion) in loan value.