Hayfin Sees File Deployment By way of Direct Lending Technique | New
Hayfin Capital Administration introduced a document interval of deployment via its direct lending technique, having invested 3.7 billion euros in 2020.
The supervisor reached a closing shut on Hayfin Direct Lending Fund III and its individually managed accounts in 2020, elevating greater than € 5 billion to be deployed in performing loans to European mid-market firms.
Traders embody the UK Staffordshire Pension Fund and the North East Scotland Pension Fund. The British Columbia Funding Administration Company – which agreed to accumulate the bulk stake within the firm in 2017 – has additionally dedicated capital, a Hayfin spokesperson confirmed.
Throughout this peak interval of exercise, Hayfin has strengthened its funding crew, enterprise improvement perform and again workplace operations with 35 new hires, he stated.
As a part of its direct lending technique, Hayfin focuses on offering senior secured online loans that ship robust returns relative to their threat profile and emphasizes draw back safety.
Previous to the COVID-19 outbreak, Hayfin self-created a excessive quantity of main funding alternatives via its native procurement groups in six workplaces all over the world and, regardless of the drop in main emissions on direct mortgage markets throughout the pandemic, the supervisor’s intensive origination capacities had been developed. The crew and enormous portfolio of present debtors have enabled the corporate to speed up its tempo of deployment in 2020, he stated.
Hayfin stated his newest fundraiser was oversubscribed and attracted capital commitments from a variety of institutional buyers all over the world, together with new and present LPs, together with private and non-private pension funds, sovereign wealth funds, insurance coverage firms, endowments, consultants, monetary establishments and household workplaces. .
This represented Hayfin’s largest capital improve thus far throughout all of its methods, surpassing the € 3.5 billion raised for the earlier classic of the corporate’s direct lending technique in February 2017.
Tim Flynn, CEO and Co-Founding father of Hayfin, stated: “Whereas the macroeconomic atmosphere is undoubtedly very completely different at the moment than in previous years, we’ll proceed to spend money on robust European mid-market firms, as a result of their financing wants improve and the sources of capital stay restricted. ”
He added that Hayfin has “one of many longest observe information in European personal lending, with a confirmed capability to take a position all through the cycle, hedge in opposition to draw back threat and generate robust risk-adjusted returns. “.
Since its creation in 2009, Hayfin has invested greater than 24 billion euros of capital in additional than 375 portfolio firms.