Beechbrook’s third debt fund targets €200m

Katharina Semke
07 March 2016

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Beechbrook Capital has launched fundraising for its vehicle Private Debt III, targeting €200m.

The debt provider aims to hold the first close in the second quarter of 2016, with a final close planned for later in the year.

The third fund will follow the same investment strategy as the previous funds by providing private debt, including mezzanine and unitranche, to lower-mid-market buyouts in northern Europe.

The targeted borrowers will typically have revenues of €5-100m and Beechbrook's investment tickets range from €4-15m. Beechbrook stated the fund aims to deliver a low volatility running yield.

Beechbrook's second debt fund reached its hard-cap of €150m in May 2014 and is now around 80% invested. The GP hopes to have the vehicle fully invested by May 2016.

The investor recently provided a unitranche loan and equity co-investment to FirstCom, an Irish telecoms software business, to help finance an acquisition in Denmark. Beechbrook made a total investment of €7.1m, alongside an equity investment from Oakfield Capital. In February 2016, Beechbrook exited Alpha Financial Markets, a consultancy to the asset and wealth management industry, through Baird Capital's sale to Dunedin.