Jefferies Credit Partners targets $4B for European direct lending

Jefferies Credit Partners (JCP), the asset management division of Jefferies Finance LLC, announced approximately $4 billion in lending capacity for its European institutional direct lending strategy, according to a press release.

The inaugural European Direct Lending Fund is anchored by commitments from Allianz Global Investors, with additional investments from the South Carolina Retirement System Investment Commission and other institutional investors. The fund was seeded at close through the acquisition of a portfolio of European private credit investments.

JCP's European direct lending platform launched in late 2024. The firm said it is also in documentation with two partnership accounts expected to close later in 2026. Combined with the fund close, those accounts and balance sheet capital are expected to bring total lending capacity to nearly $4 billion for the European strategy.

The fund uses a perpetual structure and will focus on sponsor-backed, senior secured private credit investments across Europe and the UK, primarily targeting middle market and upper middle market deals.

Joaquin Ardit, Lead Portfolio Manager at Allianz Global Investors, said leading the seeding transaction allowed the firm to apply its credit secondaries platform, including experience structuring GP-led transactions.

Jefferies LLC served as financial advisor on the transaction. Simpson Thacher & Bartlett LLP served as legal counsel to JCP.

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