Stoneweg Group has appointed Carlos Garcia-Paredo as head of credit solutions as it targets €500m (£433.5m) of deployment in private credit this year.
The alternatives firm said Garcia-Paredo will focus on scaling Stoneweg’s private credit offering, targeting up to €500m of deployment over the next 12 months. It said the move comes in direct response to borrower and investor demand.
The strategy will invest in loans and hybrid instruments across the capital structure, targeting €50-250m ticket sizes through both programme and one-off transactions.
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The private markets firm added that its initial focus for the strategy will be on Southern Europe, as the private credit market remains at a relatively early stage of development, with a particular emphasis on Spain and Portugal.
Headquartered in Geneva, Switzerland, Stoneweg is a global alternatives investment group specialising in real assets and managing approximately €11bn of assets.
“Enhancing our private credit vertical to underwrite larger ticket sizes and address an under-served mid-market is a natural next step as we continue scaling our global alternatives offering, providing innovative solutions and investment capabilities for our capital partners,” said Mikel Cervero, chief executive of Stoneweg Alternatives.
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In line with its wider investment approach, Stoneweg will partner with leading global investment managers, including family offices, ultra-high-net-worth individuals and institutions, typically through joint venture or co-investment structures.
Before joining Stoneweg, Garcia-Paredo worked at ING, where he most recently served as head of credit for Spain and Portugal.
“Long-term structural challenges are restricting the supply of capital from the banking sector, which, coupled with ongoing market dislocation, presents a compelling opportunity for highly disciplined, dynamic multi-sector credit strategies rooted in local market expertise,” said Garcia-Paredo, head of credit solutions at Stoneweg.
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