LFPI holds first close of European Debt Fund

The vehicle has a €400m target.

Approximately €50m of the capital already raised has been invested in nine companies, with a further six investments expected to complete before the end of 2014.

According to unquote" data, the European Debt Fund follows LFPI's Mezzanine Fund, which launched in May 2007 with a target of €300m. The fund currently has commitments of €380m and has completed 30 transactions.

Approximately €500m of LFPI's €3bn assets under management is invested in Germany and Austria. The focus of the investments in both countries is in real estate.

Investors
Institutional investors from France, Germany and Switzerland have already invested. LFPI intends to expand its investor base in Germany in the second half of 2014.

Investments
The fund's European focus is concentrated 40% on the German-speaking countries and France, with 20% of the fund being invested Europe-wide. LFPI invests in small- and medium-sized companies and offers unitranche financing and mezzanine capital. It also seeks opportunities in the secondaries market.

LFPI has already refinanced Solcom Unternehmensberatung by means of a unitranche financing.

The vehicle invests between €5-50m in debt financing for companies with an EBITDA of at least €5m. Typical financing commitments are acquisitions or succession solutions, in which former shareholders are bought out of companies.

People
Jérôme Balladur is founder and managing director of LFPI. Marc Brugger is partner.

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• Topics
• France
• Germany
• Austria
• Switzerland