GLOBAL – Partners closes EUR 447m mezz fund
Swiss-based asset manager Partners Group has reached a EUR 447m final close for its global mezzanine fund, soaring past the EUR 300m target. The fund has already made 11 investments in 2008, corresponding to 50% its capital.
The healthy pipeline is attributed to the credit crunch, which has re-introduced a gap in the capital structure for mezzanine to fill. Additionally the return of covenants has lowered the risk to mezzanine, while increased interest margins have allowed for healthier current returns.
In May 2006 Partners raised EUR 265m for its European Mezzanine 2005 Fund.
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