IMCO Announces US$500 Million Private Direct Lending Investment with Antares Capital LP

The Investment Management Corporation of Ontario announced a US$500 million customized private direct lending investment managed by Antares Capital LP, following a competitive manager selection process. IMCO said this platform would underpin the direct lending component of its Global Credit strategy, financing sponsor-backed middle-market borrowers in the United States and Canada. The institution targeted diversification across 75 to 100 issuers, industries and private equity sponsors. At the time, Antares described US$42.9 billion of capital under management and administration as of June 30, 2021, which is not equivalent to verified group total AUM. The announcement identified a bespoke managed investment program rather than a subscription to a specifically named Antares fund.