Lyxor Asset Management has unveiled a new Luxembourg-domiciled European Senior Debt Fund.
Known as Lyxor European Senior Debt Sicav, the fund seeks to invest mainly in floating-rate senior secured loans issued by European companies.
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The fund, which will focus on family offices, pension funds and insurance companies, will be open to subscription by professional investors until 30 June 2015.
Thierry de Vergnes, head of debt investments at Lyxor, said that the fund is aimed at reaching 200 million in size over the next 12 months.
The fund will target a return of 5.5% to 6.5% above 3M Euribor per year before fees over 6 to 8 years. It has an annual management fee of 0.5% and administrative fees of 15 basis points.
"By investing in European loans, investors get exposure to high yielding debt with a floating rate income profile that ranks at the top of the capital structure of the issuer," Vergnes added.
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By GlobalDataLyxor has launched its first 275 million European senior debt fund in July last year.
