Australia Asset Manager First Sentier $9 Billion Alternative Credit Specialist AlbaCore Launches $1.8 Billion Senior Direct Lending Strategy (First Close) with Anchor Investments from $1 Trillion Abu Dhabi Investment Authority (AIDA) Subsidiary and Mitsubishi UFJ Trust & Banking Corporation, Fund to Invest in Senior Private Loans in Upper-Mid to Large Cap European Corporates
30th March 2025 | Hong Kong
Australia asset manager First Sentier Investors ($134 billion AUM) alternative credit specialist AlbaCore ($9 billion AUM) is launching a $1.8 billion (expected first close) Senior Direct Lending Strategy with anchor investments from $1 trillion Abu Dhabi Investment Authority (AIDA) subsidiary and Mitsubishi UFJ Trust & Banking Corporation, investing in senior private loans in upper-mid to large cap European corporates. First Sentier Investors ($134 billion AUM) was acquired by Mitsubishi UFJ Trust & Banking Corporation (Subsidiary of Mitsubishi UFJ Financial Group) in August 2019, and operates as a standalone global investment management business with offices across Europe, the Americas, and the Asia Pacific). Announcement (27/3/25): “European credit specialist AlbaCore Capital Group (“AlbaCore”) today announces the launch of a new Senior Direct Lending Strategy (“the Strategy”), having secured anchor investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) and Mitsubishi UFJ Trust and Banking Corporation (the “Trust Bank”). AlbaCore has successfully completed its first close, bringing together an expected $1.8 billion in investable capital. With the launch of the Strategy, AlbaCore is well positioned to take advantage of the growing opportunity set to finance loans, further expanding its market presence and delivering enhanced value to clients globally. The Strategy will leverage AlbaCore’s deep knowledge of European corporate capital structures to build a diversified portfolio of senior direct lending investments, focusing on downside protection and delivering attractive risk-adjusted returns. The Strategy will also draw upon AlbaCore’s thorough bottom-up fundamental credit analysis to primarily finance senior private loans in upper-mid to large cap performing European corporates.”
“ Australia Asset Manager First Sentier $9 Billion Alternative Credit Specialist AlbaCore Launches $1.8 Billion Senior Direct Lending Strategy (First Close) with Anchor Investments from $1 Trillion Abu Dhabi Investment Authority (AIDA) Subsidiary and Mitsubishi UFJ Trust & Banking Corporation, Fund to Invest in Senior Private Loans in Upper-Mid to Large Cap European Corporates “
David Allen, Managing Partner and Chief Investment Officer at AlbaCore: “Securing commitments from ADIA and the Trust Bank for the first vintage of our Senior Direct Lending Strategy is a testament to the attractiveness of the opportunity set in the market and how well positioned AlbaCore is to take advantage of it.”
Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department at ADIA: “This anchor commitment presented the opportunity to grow our existing relationship with AlbaCore, which has established itself as a leading specialist European credit manager. AlbaCore’s Senior Direct Lending strategy is well placed to address the significant and growing demand from European corporates for private credit solutions.”
Takafumi Ihara, Chief Executive, Asset Management & Investor Services Business Unit at the Trust Bank: “We are excited to support the Strategy through this anchor investment. This strategic initiative aligns with that of our global asset management business, which is to expand our private product competitiveness globally in the direct lending space.”
AlbaCore Capital Group – AlbaCore Capital Group is one of Europe’s leading alternative credit specialists, investing in private capital solutions, opportunistic and dislocated credit, CLOs, and structured products. Founded in 2016, AlbaCore is part of the First Sentier Investors Group. AlbaCore’s investment philosophy is focused on capital preservation and generating attractive risk adjusted returns through the cycle for its investors. AlbaCore manages US$9.0 billion in AUM as of December 31, 2024 on behalf of global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments around the world.
First Sentier Investors – First Sentier Investors manages US$134.9 billion in assets (as of December 31, 2024) on behalf of institutional investors, pension funds, wholesale distributors, investment platforms, financial advisers and their clients worldwide. The firm was acquired by Mitsubishi UFJ Trust and Banking Corporation, a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc. in August 2019, and operates as a standalone global investment management business with offices across Europe, the Americas, and the Asia Pacific. First Sentier Investors is a globally Certified B Corporation and signatory to the UK Stewardship Code. The firm’s investment expertise spans a range of asset classes and specialist sectors focused on delivering sustainable investment success based on responsible investment principles.
ADIA – Established in 1976, the Abu Dhabi Investment Authority is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.
MUFG – Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 140,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world.
Trust Bank – Mitsubishi UFJ Trust and Banking Corporation, as a core member of MUFG, provides its customers with a wide range of comprehensive financial solutions leveraging unique and highly professional functions as a leading trust bank. Such financial solutions include real estate, stock transfer agency, asset management and investor services, and inheritance related services, in addition to banking operations. The Trust Bank aims to realize its vision to be the trust bank that can create a safe and enriching society and future alongside customers through trust; as such, its key concept is “Create a Better Tomorrow.”
Australia Asset Manager First Sentier $9 Billion Alternative Credit Specialist AlbaCore Launches $1.8 Billion Senior Direct Lending Strategy (First Close) with Anchor Investments from $1 Trillion Abu Dhabi Investment Authority (AIDA) Subsidiary and Mitsubishi UFJ Trust & Banking Corporation, Fund to Invest in Senior Private Loans in Upper-Mid to Large Cap European Corporates
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