Muzinich holds €180m first close for private debt fund

The new fund has a target of €500m, which would make it the largest private debt fund Muzinich has raised to date. Over the last three years it has launched funds specifically for lending in Italy, the UK and Iberia. Traditionally, the firm has been a significant investor in corporate credit. 

Muzinich has offices in London, Manchester, Paris, Milan, Madrid and Frankfurt – it is currently setting up an office in Dublin. With its latest fund, the firm hopes to fill a gap in the lending market left by banks, which are focused on deleveraging, it said in a statement.

Investors
The fund has so far attracted commitments from 8-10 investors, including European pension funds, insurance companies and family offices.

Investments
The closed-ended vehicle will have an eight-year investment period and will lend to SMEs in western Europe with an EBITDA of between €3-20m. The loan maturity is expected to be five to eight years. It will lend across geographies and industries, focusing on the lower mid-market.

People
Muzinich – Kirsten Bode, Sandrine Richard (co-managers)

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• Topics
• Debt
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• United Kingdom