ACCESS Pool appoints Arcmont and Golub Capital to manage European and US Senior Secured Direct Lending Strategies
The ACCESS Pool – A Collaboration of Central, Eastern and Southern Shires composed of 11 local government pension schemes, with assets totalling c.£52bn – has appointed Arcmont Asset Management (“Arcmont”) and Golub Capital to manage two distinct Senior Secured Direct Lending mandates focusing on European and US markets, respectively.
Arcmont will oversee the European mandate, and with an allocation of c.£200 million. Meanwhile Golub Capital will manage the US mandate, with a commitment of c.£150 million expected for this.
The strategies from Arcmont and Golub Capital will provide senior secured direct loans to corporates with a focus on middle market companies backed by private equity sponsors.
The appointment of our European and US Senior Secured Direct Lending firms followed a competitive process, launched in August 2024 by Apex Investment Advisory, and follows recent allocations by the Pool to other areas of the private markets, including to infrastructure, Social Affordable Housing, and impact real estate.
ACCESS recently announced its intention to establish its own FCA authorised investment management company. Efforts are underway to develop the Investment team which will be responsible for portfolio management, oversight capabilities and enable the pool to provide further value for money and the economies of scale that it has delivered to date.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said: “This allocation to senior direct lending marks the fourth phase of our private markets journey. We were highly impressed with the experience of both Arcmont and Golub Capital, and believe they are well placed to maximise the benefits of this asset class for our partner funds and members.”
“We are honoured by ACCESS’ confidence in our over 20-year-strong direct lending franchise,” said David Golub, President of Golub Capital. “We pride ourselves on delivering consistent, premium returns to our investors through all market cycles.”
Anthony Fobel, CEO at Arcmont Asset Management, said: “We are delighted to have been selected by the ACCESS Pool and recognise the trust shown in us as a steward of this capital. We look forward to working closely with the ACCESS team to the benefit of their partner funds.”
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About ACCESS Pool
ACCESS (A Collaboration of Central, Eastern and Southern Shires) is made of 11 LGPS Administering Authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.
ACCESS Authorities are committed to working together and have each signed an Inter Authority Agreement, setting out how they will work together in response to the Governments pooling agenda across the LGPS, and to optimise benefits and efficiencies on behalf of their individual and collective stakeholders.
As at 31 January 2025, ACCESS’ pooled assets totalled £52bn.
About Arcmont Asset Management
Arcmont Asset Management, an investment-affiliate of Nuveen (the asset manager of TIAA) is a private debt asset management firm providing flexible capital solutions to a wide range of businesses in Europe. Established in 2011, Arcmont has raised approximately €31 ($33) billion in assets to date from institutional investors globally and has committed over €31 ($33) billion across more than410 transactions. With a highly experienced investment team, a strong investment track record and deep technical expertise, Arcmont offers creative and flexible capital solutions to European businesses, with the reliability of a partner that values long term relationships. Headquartered in London, Arcmont’s presence span London, Paris, Madrid, Milan, Munich, Stockholm and New York, it maintains a local origination network and builds and preserves close relationships with sponsors, borrowers and local intermediaries. To learn more about Arcmont, visit www.arcmont.com.
About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.
As of January 1, 2025, Golub Capital had over 1,000 employees and over $75 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe and Asia. For more information, please visit golubcapital.com.