Principal Asset Management launched the Principal Private Credit Fund I, offering exposure to lower and core middle market loans. The fund will target 90+% exposure to private credit. This fund is managed by Principal Alternative Credit, the direct lending investment team of Principal Asset Management.
“In the current market environment, many investors are attracted to the opportunity of direct lending as it provides them with attractive yields and an expectation for resilient performance through various market conditions,” Tim Warrick, managing director of alternative credit at Principal Asset Management, said. “The Principal Private Credit Fund I is tailored to meet the evolving needs of investors who prioritize significant income driven investment returns and diversification compared to other more typical investment options.”
“With this offering, we have taken the proven approach of the Principal Alternative Credit team and offered it as an interval fund to meet the needs of our clients in the U.S. wealth markets,” Barbara Wenig, executive managing director, Principal Asset Management, said.
