AllianceBernstein launches new private credit investing platform

By Jennifer Chiou

New York, April 28 - AllianceBernstein LP announced that it has established a new private credit investing platform that will focus on direct lending to middle-market companies.

According to a press release, the AllianceBernstein Private Credit Investors will be led by the former senior leadership group of Barclays Private Credit Partners LLC, which was previously the registered investment advisor for Barclays Private Credit Partners Fund LP.

The company stated that it has secured $500 million from its leading institutional investor.

AllianceBernstein said that this platform is a response to increasing demand from clients seeking exposure to direct lending strategies.

The New York investment firm will target primary-issue middle-market credit opportunities that are directly sourced and privately negotiated, the release noted.

The team will emphasize secured lending by focusing on first-lien, uni-tranche and second-lien loans, while selectively considering mezzanine, structured preferred stock and non-control equity co-investment opportunities.

"Direct lending to middle-market companies is an attractive space due to its enduring fundamentals and strong secular growth trends," Brent Humphries, group leader and former president of Barclays Private Credit Partners, said in the release.

"By joining AllianceBernstein and tapping into its leading fixed-income franchise and strong distribution capabilities, my colleagues and I can continue to execute our disciplined investment philosophy and relationship approach to lending."

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