Tikehau Capital, a prominent credit secondaries investor, has acquired a special purpose vehicle of loan assets managed by Brightwood Capital. The NAV of the SPV is about $70m, according to 9fin sources.

The SPV is made up of mostly senior direct loans to both sponsored and non-sponsored borrowers, sources said, but the assets will be placed in a new continuation vehicle. Brightwood will continue to manage the assets, while Tikehau will lead the fund, according to a release.