Idinvest closes debt fund on €281m

The fund has already provided financing in eight transactions, including the acquisition of Belgium-based Stow International by LBO France-owned Averys; Axa Private Equity-backed Novacap's acquisition of assets in China; and a facility provided to ADB Solutions, a Belgian airport lighting specialist backed by PAI partners.

Idinvest held an interim close for the fund in May, having raised €205m at the time. Fundraising began at the end of 2012.

The firm has not used a placement agent for the fund and instead chose to rely on its historical links with French life insurance companies.

Investors
According to the firm, the fund's LPs are "major and well-known institutional investors". Unquote" previously reported that the majority of the vehicle's investors are French life insurance companies.

Investments
Idinvest Dette Senior will invest in unlisted European SMEs by providing senior acquisition debt, with a particular focus on businesses that possess the ability to expand overseas and enter emerging markets.

People
Christophe Bavière is the CEO of Idinvest. Eric Gallerne, the head of senior loans at the firm, will manage the fund and its activity.

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• Topics
• Funds
• France
• Senior debt
• IDInvest Partners (AGF Private Equity)
• France