Idinvest passes €500m mark in Private Debt V fundraise

The vehicle is now halfway towards its target, with the firm aiming for a €1bn final close in H2 2020. The fund's predecessor, Idinvest Private Debt Fund IV, closed on €715m in May 2018, surpassing its €600m target.

Unquote previously reported that the fund had held a €200m first close and had completed its first transaction.

Idinvest declined to comment on the fundraise. 

Private Debt Fund V hopes to attract new LPs based in South Korea and Japan. Eurazeo, which owns a 70% stake in Idinvest, opened an office in South Korea in September, with the objective of increasing the LP network of Eurazeo and Idinvest in Asia. Around 60% of the investors in Idinvest's previous debt fund came from outside France.

The fund's predecessor backed European lower-mid-market companies with enterprise values of €30-200m, providing mezzanine and unitranche loans.

Some of the companies Idinvest has recently provided financing to include Spain-based bioethanol manufacturer Vertex Bioenergy and Luxembourg-based Redspher, a transport and logistics group.

Managing partners François Lacoste and Eric Gallerne head Idinvest's private debt team.

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• Topics
• Funds
• France
• Debt
• France
• IDInvest Partners (AGF Private Equity)