Debt
KKR, Schroders back Neos direct lending JV
KKR is the principal investor in the vehicle and is drawing the investment from its credit funds
Resilience Partners targets final close for direct lending fund
Spanish direct lender is targeting a February 2019 final close for its maiden fund
Pemberton targets €2.5bn for second European debt fund
Vehicle's 2016-vintage €1.2bn predecessor is now understood to be fully deployed
Tikehau holds first close, launches fund
French GP's TGE II backs SMEs across western Europe with EBITDA in the €5-50m range
Pillarstone, FVS launch €400m fund
Fund will invest in distressed SMEs based in the north of Italy by deploying tickets of around €20m
Green Arrow nears close for two funds
Investment firm Green Arrow Capital wholly acquired Italian GP Quadrivio Capital in November
Ares closes fourth direct lending fund on €6.5bn
Final close comes within six months of launch, with the fund oversubscribed for its €4.5bn target
BNP Paribas launches UK SME lending fund
Fund will provide senior loans to SMEs with an annual turnover of less than £50m
Bregal launches €40m ESG-dedicated fund
Bregal Sustainable Development Fund will provide loans on favourable terms to portfolio companies
Debt funds carve out niche in Polish lending market
Alternative credit providers are pursuing smaller, more complex transactions and are often willing to invest alongside traditional lenders
Idinvest holds €715m final close for Private Debt IV
Idinvest Private Debt IV surpasses its initial target of €600m and is already deployed at 60%
Main Capital to launch €250m private debt fund
Main Capital Fund I will primarily target successful Italian SMEs but also distressed businesses
Five Arrows Direct Lending closes on €655m
Rothschild Merchant Banking's direct lending fund for mid-market firms exceeds its €400m target
Bridgepoint preps for first credit fund launch
Firm's first debt vehicle will invest in Bridgepoint's own deals as well as third-party ones
Mid-market leverage continues upward creep
High price tags, limited assets and cheap debt are helping to push up leverage boundaries in the European mid-market once again
Amundi launches €300m LBO debt fund
Vehicle will select issuers primarily from the portfolio companies of major private equity firms
Céréa Partenaire holds €300m first close for Céréa Dette II
Senior debt vehicle inches closer to its €350m hard-cap and already exceeds its predecessor
Partners Group launches impact fund
Move follows impact fund launches from global PE firms TPG, KKR and Bain Capital in recent months
Alternative lending thrives in the Netherlands
Only the UK, France and Germany have seen more deals involving alternative debt, with Netherlands activity growing 31% year-on-year in 2017
Capzanine to hold final close for €950m private debt fund in Q1
Launched in Q1 2017, Capzanine 4 Private Debt fund should hold a final close in March
Italian private debt issuance jumps 35% in 2017
Southern Europe's two biggest markets differ greatly in their uptake of private debt, with Spanish players facing strong competition from banks
Artemid closes second debt fund
Launched in Q3 2017, Artemid Senior Loan II surpasses its predecessor and closes on €413m
GP Profile: Cerea Partenaire
Three-pronged food and agriculture investor is due to announce a first close for its second debt fund in March ahead of a final close on its €300m target
Scor, LBO France launch Scor Mid Market Loans fund
Asset manager Scor Investment Partners teams up with GP LBO France for a leveraged loans fund
