CVC Credit Partners launches €400m European fund
CVC Credit Partners, owned by CVC Capital Partners, is launching a €400m European credit fund, unquote” understands.
The fund, understood to be led by managing director and portfolio manager Neale Broadhead, will target mid-market deals.
CVC's credit funds focus primarily on senior secured debt for the US and European markets. According to the firm's website this accounted for more than 76% of its European portfolio as of September 2013. A further 21% was accounted for in the form of senior unsecured debt, while CVC Credit Partners also provides mezzanine loans.
Last year the firm placed €350m of shares for its listed European Opportunities debt fund. The vehicle focuses predominantly on senior secured loans for sub-investment grade European debt markets.
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