Tokio Marine anchors $300m first close of BlueOrchard and IFC's $2bn emerging-market debt fund

Tokio Marine Group anchored the $300m first close of an emerging-market private debt fund that BlueOrchard and IFC are building toward a $2bn target.

The evergreen vehicle is aimed at pension funds, insurers and sovereign wealth funds. The first close covers 15 per cent of the $2bn target.

Partners Group, Tikehau Capital and StepStone with ASB Capital launched evergreen or open-ended private credit vehicles this week. Partners Group launched a multi-sector private credit income strategy for institutional and private wealth investors, targeting high single-digit to low double-digit returns. Tikehau Capital put its Luxembourg evergreen private credit ELTIF on iCapital Marketplace for wealth managers in eligible EMEA markets. StepStone and Dubai's ASB Capital launched the ASB StepStone Private Financing Fund, described as open-ended and perpetual, to lend mainly to US middle-market companies.