About This Fund
The Arini Direct Lending Fund is a private credit vehicle managed by Arini Capital Management, a London-based alternative credit manager founded by senior portfolio managers formerly associated with Sculptor Capital Management. The fund targets the European middle market through non-sponsored direct lending, providing senior and junior debt to mid-sized companies that fall outside the conventional sponsored finance ecosystem—a segment where competition from larger credit platforms is less intense and return premiums remain attractive.
In June 2025, the fund reached a first close anchored by a $200 million commitment from British Columbia Investment Management Corporation (BCI), one of Canada's largest pension managers. In November 2025, the fund achieved a second close at $2.3 billion, reflecting substantial institutional demand from global investors seeking exposure to European private credit. Arini has partnered with Lazard Inc. under a cooperation and sourcing agreement focused on EMEA private credit, providing the fund with differentiated deal flow origination capabilities across Western European middle markets.
The investment strategy emphasizes portfolio diversification across senior and junior debt instruments, targeting mid-cap borrowers with resilient cash flows, defensive business models, and limited refinancing risk. Arini positions the fund as a complementary alternative to bank lending and broadly syndicated loans, seeking superior risk-adjusted returns in the less crowded segment of the European direct lending market. The fund's institutional LP base and Lazard sourcing partnership underline its differentiated market positioning in the competitive European credit landscape.