Artemid closes second debt fund

The debt provider's second fund is larger than its predecessor, ASL I, which held a final close on €345m in October 2015, according to Unquote Data. Artemid mentioned that the investment strategy of ASL II will largely follow that of its predecessor.

Artemid is a joint venture between Capzanine and Amiral Gestion, specialised in small- and mid-cap financing. It provides senior debt with maturities between five and seven years to European SMEs and mid-cap companies, both listed and unlisted, with revenues ranging between €50m-1bn.

Investments
ASL II provides tickets of €10-35m, which could be increased thanks to co-investments with some of the investors backing the fund. The loans and bonds have maturities between five and seven years and are usually bullet loans.

The fund will invest in mid-cap companies based in the European Union, with Artemid having recently expanded to Germany, Spain and Italy. The companies' EBITDA will stand at €10-100m and investments will a have a leverage ratio not exceeding 3.5x. Nine companies have already been backed by the fund.

People
Artemid – Annie-Laure Servel (CIO).
Amiral Gestion – Nicolas Komilikis (managing partner).
Capzanine – Laurent Bénard (managing director).

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