Kartesia closes latest fund on €870m hard-cap

Kartesia stated it was on the road for nine months, raising €360m more than for Fund III.

The firm's assets under management have grown steadily since it was set up in 2013 by three former LBO France partners and an ex-ICG director. Despite being formally founded in 2013, Kartesia can trace its roots back to January 2009, when the founders were hired by LBO France to head up a newly launched credit arm under the Altercap fund brand.

The firm continues to co-manage two Altercap funds - the €125m Altercap I and €200m Altercap II funds are both fully invested.

It then launched Kartesia Credit Opportunities III in 2013, with a final close in March 2015 on €507m.

Over the past six years, Kartesia has deployed around €700m in 65 companies across Europe. It mainly focuses on France and Germany (30% each), with the remainder split across the Nordic region, Spain, Italy, Benelux and the UK.

Investors
Kartesia stated that existing investors reinvested at a rate of more than 100% in KCO IV, and that it also expanded its investor base outside of Europe into the US and the Middle East.

Investments
KCO IV will continue Kartesia's existing strategy, offering bespoke financing packages of €10-60m to European small and mid-cap companies.

According to the firm, KCO IV is already 35% invested in 15 deals across seven European countries.

People
Kartesia - Jaime Prieto, Laurent Bouvier (co-founders, managing partners).

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