Antares Capital has closed its $6bn Senior Loan Fund II.

The fund will invest in US and Canadian private senior debt from private-equity backed corporates.

Investors in the fund include public and private pension funds, insurance companies, asset managers and banks. Over 50 institutions participated.

The number of investors involved points to continued growth in the private credit market.

Antares was founded in 1996 and offers funds, CLOs and managed accounts.