Macfarlanes advises Arcmont and Carne Group on private debt LTAF

18 June 2024

Macfarlanes has advised Arcmont Asset Management, and its independent authorised corporate director, Carne Global Fund Managers (UK) Ltd, on the launch of an open-ended private debt focussed fund under the Long-Term Asset Fund (LTAF) regime.

The LTAF, the first established by a specialist private debt asset manager, has been designed to offer UK defined contribution default pension scheme investors an opportunity to enhance portfolio diversification via exposure to private debt, while accessing the illiquidity premium available in private markets. The LTAF will have exposure to a defensive, diversified portfolio consisting mainly of senior loans, as well as extending unitranche, second lien and subordinated loans.

The LTAF has received regulatory approval from FCA and will be launched later in the year.

Arcmont Asset Management, an investment-affiliate of Nuveen, the investment manager of TIAA, is a private debt asset management firm providing flexible capital solutions to a wide range of businesses in Europe. 

Carne Group is an international company that has established itself as an expert and pioneer in fund regulation and governance solutions, allowing it to become Europe’s leading third-party management company and trusted partner to the fund management industry.

The Macfarlanes team was led by investment management partner, Lora Froud, with assistance from senior associates, Tiffany Cox and Emma Garnham and associates, Angela Phelan and Harry Middleton.