Proventus raises SEK 12bn direct lending fund

The vehicle has exceeded its SEK 10bn target. Proventus CP began fundraising earlier this year, holding a first close on SEK 8.8bn in May.

Founded in 2009 as the credit division of Swedish investment firm Proventus, Proventus CP raised its €216m first fund just a year and a half later. The firm raised a total of SEK 7.4bn for its funds II and IIB in 2011 and 2012, respectively.

Credit Suisse was employed as the placement agent for the fund.

Investors
Investors in the vehicle include public and corporate pension funds, insurance companies, foundations, endowments and family offices. Approximately 30% of commitments came from outside the Nordic region.

Proventus CP's founding parent, Proventus, was one of the largest investors in the fund.

Investments
The GP will provide direct loans to Nordic and Northern European mid-sized companies to fund organic expansion, acquisitions, address working capital needs, handle ownership changes or refinance. This strategy follows that of Proventus CP's two previous funds.

People
Daniel Sachs is the CEO of Proventus CP.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyout
• Nordics
• Sweden
• Senior debt