By Daniel Lanyon on Thursday 13 September 2018
The asset manager is looking to leverage its expertise in the direct lending world in a listed vehicle.
Fund management giant M&G is looking to potentially launch a new investment trust focused on various private as well as public debt assets, according to media reports.
While M&G appears to be in the stage of marketing the new strategy to investors, especially wealth managers, there also appears to be no firm plans or date set for an Initial Public Offering (IPO).
Targeting a £250m fundraise nonetheless, the new investment trust will invest in loan assets across the private debt spectrum, according to City Wire, an area M&G has considerable expertise in having grown its direct lending business to nearly £2bn of origination volumes.
It says that the new fund will target payouts of 4 per cent over Libor.
Companies house records show that M&G Credit Income Investment Trust PLC was registered to Companies House in July.
M&G declined to comment to AltFi.