Barclays are struggling to raise new funds in a private loan partner

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Barclays’ personal loan partner struggled to attract fresh investment a year after announcing a parcel with the bank, the transaction may ensure that the British lender can provide a market to compete in a market for $ 1 to 1.6.

AGL Credit Management, in April last year, a $ 1 billion in an investment organization (ADIA) and exclusive regulation provided a private loan platform with investment benefits Barclays. However, this was struggling to take other investors to the fund.

The Foundation has attracted less than $ 70 million in the first quarter, except for the next quarter since the day of the AGL in 2019, attracted less than $ 70 million to $ 70 million.

The fundraising process is described as “slow” with knowledge of two people’s efforts. One of the people, AGL said, “Do not have a track record in a personal loan,” he said.

When it started, the partnership was traditionally filled with banks and agreed to the five-year cooperation agreement, as a road to the growing private credit market.

Barclays did not cope with their own funds, but AGL, in the bank’s deals, took the right to the first refusal. It can also invest in transactions written by other banks.

Taylor Wright, Barclays ‘Investment Banking, when the bank’s customers’ customer financing has a “strong desire”, he said, “OKL’s strong investment opportunities and track records are an ideal collaboration. ”

However, in the annual report, the investors have a risk factor for investors, and many of the competitors have “more large and larger financial, technical and marketing sources than we do.” The Fund listed $ 473 million in investments last year.

Fundraising difficulties are a symptom of slowing down in special markets that limit large investors to make new funds.

Special loans are the third year in 2024, according to Pregy’s information, due to the emergence of new liabilities.

He rejected the proposal that gave information about the partnership that was slow to be fundraising with one that did not have any difficult target for Barclays and AGL efforts. A second person said that AGL is still talking to potential investors who are working on the fund.

“Since the beginning of October, we have been very pleased with the high interest rate on AGL’s new private loan platform in accordance with our different strategy.”

“Barclays are strategic and financing solutions to give customers direct credit, including” the bank’s comprehensive lending. “” We are pleased with how the partnership is developing and we will continue to increase our opportunities. “

The strength of traditional bonds and credit markets restricted the transfer of any fixture for the Bank. Barclays, including barclays, were comfortable to make new shopping financing as the markets return.