The ACCESS pool for 11 Local Government Pension Schemes (LGPS) has awarded £350m in direct lending mandates as it continues to expand its private markets offering.
The pool has appointed Arcmont Asset Management to run a £200m European mandate and Golub Capital to invest £150m in a US direct lending strategy.
In a statement, ACCESS said both mandates would see the managers allocate to senior secured direct loans to corporates, with a focus on middle-market companies backed by private equity sponsors.
It comes as ACCESS seeks to establish an internal team and a regulated investment management company to ensure compliance with the government’s intention for LGPS pooling.
Mark Kemp-Gee, chairman of the ACCESS Joint Committee, which oversees the pool, said: “This allocation to senior direct lending marks the fourth phase of our private markets journey.
“We were highly impressed with the experience of both Arcmont and Golub Capital, and believe they are well placed to maximise the benefits of this asset class for our partner funds and members.”
The appointments follow other recent mandates, including to Adams Street Partners and HarbourVest to invest in private equity, in a deal that could be worth up to £12bn in assets over the life of the agreement.
Over the past 18 months ACCESS has announced a range of private markets mandates, including several targeting real estate. These include a , a , and a run by Orchard Street Investment Management.
The pool has also backed an .
