Debt
European Direct Lending Perspectives Q2 2020
Debtwire and Creditflux examine the way direct lenders reacted to pandemic-related upheaval and how the industry looks set to bounce back
Levine Leichtman Capital Partners Europe II closes on €463m
Fund has already completed one investment and has two additional deals under contract
Indigo Capital II holds €300m final close
Fund provides private bonds and preferred equity to European mid-market businesses
Triton closes second debt fund on €744m
Fund surpassed its €550m target and will focus on lending in the DACH, Benelux and Nordic mid-market
Q4 Fundraising Pipeline: UK
Unquote rounds up the most notable fundraises currently ongoing in the French market across the buyout, venture and secondaries spaces
Anima Alternative launches €200m direct lending fund
Fund will deploy financing to support the recovery and expansion of Italian SMEs operating in a wide range of sectors
Equita Private Debt II holds €100m first close
Fund invests in senior unitranche and subordinated bonds in sponsor-led transactions
Muzinich Pan-European Private Debt II holds €210m first close
Fund provides capital to lower-mid-market companies to fuel their growth and finance their expansion strategy
Beechbrook to close Ireland Fund in Q4, credit fund in 2021
Beechbrook is also looking to raise its next flagship vehicle, Beechbrook Private Debt IV
ICG launches second recovery fund
Second vehicle will be larger than its predecessor, which closed on €843m in March 2010
Capza 5 Flex Equity holds €450m first closing
Fund provides flexible financing that combines majority or minority capital, convertible bonds and mezzanine
Golding holds first close for private debt vehicle
Fund-of-funds has already completed one co-investment and has made a number of primary commitments
BNP Paribas Euro SME Debt Fund II holds €576.5m final close
Investment period for the GP's €500m predecessor debt vehicle ended earlier in 2020
Mezzanine Management gears up for direct lending fund
Mezzanine Management is considering €400m as an appropriate target for its new fund
October starts deployment of Italian direct lending fund
Firm also manages October SME IV, a European Long Term Investment Fund (ELTIF) with a €250-300m target
Crescent European Specialty Lending Fund II closes on €1.6bn
CESL II invests in a diversified portfolio of private secured debt issued by European companies
Springrowth closes debt fund on €417m, plans new €200m rescue fund
Fund targets mid-market European companies generating EBITDA of at least €3m and revenues of €30-150m
Riello Investimenti launches €150m debt fund
Fund is larger than its predecessor, Impresa Italia Private Debt I, which raised €70m in 2016
Main Capital launches restructuring fund for Covid-19 crisis
Fund is dedicated to UTP exposures and is composed of a credit section and a finance unit
Mercer closes Private Investment Partners V on $2.7bn
PIP V consists of a US vehicle for US investors and a Luxembourg vehicle for non-US investors
Direct lenders eye secondaries market for first-gen funds
Several European direct lenders are speaking to secondaries advisers about running processes on older vintage funds
Ardian closes fourth private debt fund on €3bn
Launched in Q4 2017, Ardian Private Debt Fund IV is 50% larger than its predecessor
Inveready holds €55m first close for private equity fund
Gaea Inversion has a €110m target and expects to hold a final close by the end of March 2020
ICG raises €1bn for Mid-Market fund, appoints two MDs
Peter Kirtley and Robin Molvin will support the deployment of ICG’s maiden Mid-Market fund
