Kartesia Credit Opportunities Fund V hits €1.5bn hard-cap

The vehicle is almost double the size of its predecessor, KCO IV, which closed on €870m in 2017.

"The strong fundraising for our latest credit opportunities fund reflects the strong track record of the previous KCO vintages and increasing demand for European private credit strategies from investors across the globe," said Laurent Bouvier, founding partner of Kartesia. "We plan to execute a strong pipeline of transactions in the sponsorless segment of the market, supporting robust lower-mid-market European companies in their continued growth."

Kartesia was advised by Campbell Lutyens and Everest Holding in the fundraising of KCO V.

The firm recently held a final close on €1bn for its inaugural Senior Opportunities fund KSO I. The vehicle provides senior debt to European small and medium-sized companies with strong credit profiles.

Investors
Kartesia Credit Opportunities Fund V received commitments from a wide range of strategic institutional investors, including pension funds and insurance companies, as well as numerous family offices and high-net-worth individuals.

While investors are still predominantly located in Europe, KCO V has raised capital from North America, Asia and the Middle East.

The fund attracted several new investors, with more than 50% of the committed capital coming from those new to the KCO strategy.

Investments
Kartesia Credit Opportunities V focuses on providing flexible and bespoke credit packages to lower-mid-market European companies across the capital structure, in both primary and secondary markets. It also plans to invest in the fast-growing and less competitive sponsorless part of the market.

To date, KCO V has completed 27 investments, deploying more than €500m. Recent transactions include supporting Flywheel Partners' acquisition of ES Global in the UK; the provision of a credit facility to finance the growth of Headfirst Group in the Benelux region; and financing Silvertree's acquisition of Orbus Software.

People
Kartesia – Laurent Bouvier (founding partner).

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