Golding holds €331m first close for private debt fund

This represents 55% of the fund's €600m target after five months of fundraising. The previous fund, Golding Private Debt 2014 (also known as Golding Private Debt VIII), held a final close on €413m, surpassing its €300m target.

The new fund will focus on fast-growing mid-market companies in Europe and the US. The strategy hopes to take advantage of tighter regulations on bank leverage lending in Europe, particularly in Germany. The press release cites TU Darmstadt research that suggests two thirds of German Mittelstand companies are expecting more onerous funding terms.

Investors
The fund has 23 investors at first close, including insurance companies, pension funds, banks and savings banks. A large majority (90%) of commitments came from investors in previous Golding funds.

Investments
The investment strategy will focus on lending to mid-market companies in Europe and the US, consisting mainly of senior loans, but also subordinated debt such as mezzanine and some unitranche. The fund will also invest in some secondary opportunities during phases of market uncertainty. The vehicle will target a portfolio of around 300 loans.

People
Golding Capital Partners – Jeremy Golding (managing partner).

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• Topics
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• Senior debt
• Mezzanine
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