Arcmont Targets Over €12 Billion for Latest Direct Lending Fund

Arcmont Asset Management is planning to raise over €12 billion ($13 billion) for a new European direct-lending fund, people with knowledge of the matter said.

It’s the fifth fund from London-based Arcmont’s flagship strategy — which looks to back European buyouts with private loans — after the firm raised €10 billion for the previous vintage at the start of this year.

Increasingly, private lenders such as Arcmont and Ares Management Corp. are the go-to choice for private equity firms seeking debt to fund their acquisitions. The industry’s growing demand is fueling the creation of ever-larger funds at leading firms, with ...