Mid Europa Partners has completed the recapitalisation of its portfolio company Aster, a Polish cable broadband operator. In the financing Aster raised EUR 415m through a combination of senior, mezzanine and pay-in-kind facilities from both new and existing lenders. The financing is the largest-ever recapitalisation in Poland and includes the largest-ever local currency-denominated senior credit facility in a leveraged financing in Central and Eastern Europe. Credit Suisse underwrote the financing and coordinated the amendment process. Kirkland & Ellis and White & Case advised Aster. Clifford Chance advised the lenders.
Gyrus is fundraising for both its open-ended Cortex Fund and closed-ended Principal Fund
Funding will be used to scale the company's platform for the US and Asia markets
Fund targets companies operating in a wide range of sectors and deploys tickets in the $50-500m range
Predecessor vehicle PEC III closed on $389m in October 2017 and is now fully deployed