Guggenheim Investments, the asset-management arm of Guggenheim Partners, is seeking to raise at least $1.5 billion for its newest private credit fund, according to people with knowledge of the matter.
(Bloomberg) — Guggenheim Investments, the asset-management arm of Guggenheim Partners, is seeking to raise at least $1.5 billion for its newest private credit fund, according to people with knowledge of the matter.
The firm, which manages more than $224 billion, has begun discussions with potential investors, said one of the people, who asked not to be identified because the talks are private. Executives including Joe McCurdy, Kevin Gundersen and Rusty Parks are helping to steer the effort.
A spokesman for New York-based Guggenheim declined to comment.
The fund is among dozens being raised by alternative-asset managers seeking healthy returns from loans to middle-market companies, filling a role previously played by banks.
Globally, 34 private credit funds raised $71.2 billion in the quarter ended June 30, according to data provider Preqin.
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