Idinvest holds first close on €200m for Private Debt V

Unquote previously learned from managing partner François Lacoste that the fund was 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.

Idinvest declined to comment on the first close of the fund. 

Investors 
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.

Investments
Idinvest Private Debt V has already completed a transaction, Unquote understands.

The fund's predecessor backed European lower-mid-market companies with an enterprise value of between €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. 

People 
Idinvest – François Lacoste (managing partner). 

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• IDInvest Partners (AGF Private Equity)