Aluna Partners Group is preparing its second asset-based finance fund, its first to be domiciled in Europe.
The fund, named Aluna Partners Credit Solutions, is targeting to raise its AUM by year three to €1bn. It will be structured as a Luxembourg evergreen fund.
Aluna Partners Credit Solutions will be looking at cash ABS transactions and significant risk transfers across Europe, especially in areas like the Nordics and Central and Eastern Europe.
It is looking at a pipeline of over €600m to deploy into the next twelve months, 9fin understands.
The fund is targeting insurance companies, pension funds, foundations, endowments, and family offices, with the fundraising efforts in Europe and the UK.
The vehicle will operate using a controlled degree of leverage from tier one global banks.
Aluna Partners was founded in 2020 as an advisory, capital and investment management solutions platform, and it first launched a US ABF fund. Its focus has been on private credit and constructing portfolios concentrated in ABF and trade receivables.
The firm has originated over $150m in asset-backed facilities over the past three years, working with originators, SMEs, and lenders on structured securitised products, working capital facilities and supply chain finance transactions, according to...
