Certior holds first close on €35m for special opportunities fund

The fund has a target of €75m and is due to hold a final close in May 2021. Investors in the fund include European institutional investors including pension funds and family offices.

Certior chairman Ari Jauho said the GP was seeing a significant number of highly experienced individuals set up new funds in the current environment, and that it had "already looked at more than 50 potential fund and co-investment opportunities in this segment and have a number of deals in final due diligence".

The vehicle plans to target European distressed debt market and aims to take advantage of the "opportunity arising from the significant wave of distressed loans that are emerging during the current global recession".

Borenius provided legal advice to the GP on the fundraise.

The Finnish firm specialises in European small-cap and mid-market private equity and private credit markets. Other than CSOF, it manages four other vehicles, including Certior Credit Opportunities Fund and Certior Credit Opportunities Fund II, which invest in niche SME direct lending funds and directly into loans. It also invests from Certior Credit Investments, which targets European mid-market direct lending transactions; and Certior Private Equity Fund I, which focuses on European small-cap and mid-market companies. 

Investments
CSOF will invest in areas such as distressed debt, opportunistic strategies, special situations, non-performing loans and asset-backed securities.

It will build a portfolio of 100+ assets through six to eight primary fund investments, most of which will be smaller, high-conviction funds focusing on niche opportunities, and more than 10 co-investment opportunities.

People
Certior Capital – Ari Jauho (chairman).

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