Hayfin raised more than €15bn for a direct lending fund, doubling its last vintage

Hayfin's fundraise was reported by Aysha Gilmore at Alternative Credit Investor. The London firm closed Direct Lending Fund V above €15bn, more than double the €6bn raised for the fund that closed in August 2023. Half the money is already spent. More than 50 percent of commitments had been deployed across over 35 companies at the final close, and the firm said it invested €7.1bn in direct lending over the preceding 12 months, bringing deployment since inception above €38bn across more than 350 investments. A rated note feeder, which lets insurers access the strategy, contributed about $600m. Hayfin attributed demand to strains in semi-liquid US private credit funds sold to retail investors, which it said pushed limited partners toward closed-ended vehicles. Commitments came from institutions only.