Rothschild holds €235m first close for private debt fund

Greg Gille
16 May 2013

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Rothschild's Five Arrows Credit Solutions (Facs), a debt fund focused on the western European mid-market, has held a first close on €235m.

Rothschild started raising the fund at the beginning of 2013 and is hoping to reach a final close on €400m.

The firm stated it was seeking to capitalise on the dislocated European credit markets and to fill the financing gap currently faced by medium-sized businesses.

Rothschild held a final close for its secondaries-focused fund Five Arrows Secondary Opportunities III (Faso III) on €259m in July last year.

Investors
Facs attracted commitments from a global investor base comprising institutions, family offices and high-net-worth individuals.

Investments
Facs will provide unitranche, mezzanine and other junior debt instruments to mid-market European companies.

The fund will back private equity sponsors in buyouts, expansion deals and recapitalisations. It will also provide bespoke lending solutions to privately-owned corporates to finance acquisitions, expansion capital, refinancing and shareholder reorganisation.

At the same time, Facs will look at acquiring existing loans in the secondary market on an opportunistic basis.

People
Facs is managed by Edouard Veber, the former co-manager of JP Morgan's European mezzanine investment activities, and former Indigo Capital partner Martin Hook.