M&G targets £250m for private credit investment trust

Over 20 years experience in sector

Laura Dew
The fund will aim to pay a long-term dividend of three-month LIBOR plus 4%

The fund will aim to pay a long-term dividend of three-month LIBOR plus 4%

M&G Investments is launching a Credit Income investment trust, the first time it has made private debt available to its non-institutional investors.

The asset manager hopes to raise £250m when the trust floats with parent company Prudential intending to subscribe for 25% of the shares to be issued, up to £80m.  Lead manager of the trust will be Jeremy Richards who has been responsible for managing the fixed income team on Prudential's life and annuity funds since 1993. Baillie Gifford mulls multi-asset trust launch as it takes crown from JPMAM M&G has been managing money in private credit for over 20 years and said the assets were particularly suited to the closed-ended market as they offer lower volatility than corporate bonds...

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