Santander Different Investments has raised €150m (£128.1m) on the first shut of its second European asset-backed company lending fund.
The Asset Backed Company Lending Fund II (ABCL II) obtained backing from traders together with Santander Group, the European Funding Fund and different institutional traders, the alternate options agency mentioned.
The fund is concentrating on €500m at closing shut, which is scheduled for June 2027, and offers financing to small and medium-sized firms throughout Europe.
In accordance with Santander Different Investments, it has already recognized deployment alternatives and expects to make near-term commitments in Spain, Italy, Germany and France.
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Santander Different Investments is a part of Santander Asset Administration, which oversees €275bn in property and invests throughout non-public debt, infrastructure and vitality, in addition to actual property.
Santander Asset Administration is a Spanish-based asset supervisor and a subsidiary of Santander Group.
The fundraising comes as some have recommended that European non-public credit score has seen important progress since 2025 and into 2026, pushed partially by macroeconomic components. One asset supervisor mentioned investor curiosity has elevated since US President Donald Trump introduced tariffs.
Alongside this, the US non-public credit score market’s heavy publicity to software program firms and issues that advances in synthetic intelligence may disrupt the sector, already inserting stress on semi-liquid funds, have additionally prompted traders to extend allocations to European non-public credit score.
Hayfin raised greater than €15bn for its fifth direct lending fund this month and attributed a part of the fundraising success to traders in search of “conservative fund buildings” within the wake of strains in semi-liquid US non-public credit score funds.