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Behind the scenes, limited partners are pressing managers harder on how they will defend positions in bespoke deals where there is no broadly syndicated market to provide a check on sponsor tactics.
Though corporate direct lending has attracted most of the market’s attention in recent years, its growth is slowing, leaving firms needing to permeate new areas to expand.
The fund is intended to provide individual investors with broader access to institutional-quality private market opportunities through a professionally managed portfolio.