Stockholm (HedgeNordic) – Scandinavian Credit Fund has reached SEK 3 billion in assets under management following record commitments from investors in December and January. The alternative investment fund engaged in direct lending to small and medium-sized companies had reached SEK 1 billion in assets in October of 2017 and reached the SEK 2 billion-mark in June last year.
With the effort of six analysts and originators part of its debt capital market (DCM) origination team, Scandinavian Credit Fund provides short- to medium-term direct loans to small- and medium-sized companies seeking capital for business expansion, inventory or equipment purchases, working capital needs, or refinancing. Due to the rapid rise in assets under management, the alternative investment fund expanded their origination team in early January with the hiring of Carl Levert (read more details). Scandinavian Credit Fund raised SEK 180 million in new capital during December and January, new commitments the fund’s DCM origination team have at their disposal for deployment as of the beginning of February. After reaching SEK 3.1 billion in assets under management at the end of January, the fund raised its asset ceiling to SEK 5 billion.
Scandinavian Credit Fund, founded by Fredrik Sjöstrand and Peter Norman (pictured), has a return target of 6-8 percent per year, and the fund has successfully reached its objective in each of its three years since inception. The direct lending fund earned an average annual return of 7.5 percent since launching in January 2016, experiencing only one down month so far and reaching its 36th consecutive month of positive performance in January.