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

Over 20 years experience in sector

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

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...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot