Steadfast Capital Markets Group has reached a deal with Alcentra NY LLC to launch a direct lending credit fund, called Steadfast Alcentra Global Credit Fund. The fund will back private middle-market companies in the U.S. and Western Europe.

Direct investments of the Steadfast Alcentra Global Credit Fund will be sourced and actively managed by Alcentra. As part of the deal, Steadfast will serve as sub-adviser for the fund’s investments. The fund will offer up to $3 billion in shares of common stock, using the proceeds from the fund’s offering to provide custom financing structures to lower middle-market and middle-market businesses. The fund will also provide debt structures in the form of floating and fixed-rate senior secured loans, second lien loans, subordinated debt, and some minority equity investments.

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