Hayfin closes direct lending fund on €2bn

HayFin was established in 2009, with financial support from Towerbrook, PSP Omers and Future Fund. In December last year, Hayfin backed KKR's refinancing of Auto-Teile-Unger, in a deal that saw the alternative lender provide a €75m fresh credit line.

The successful raise highlights the continued prominence of direct-lending funds to fill the funding void left by banks in Europe. According to DC Advisory, 46% of leveraged buyouts in the UK last year contained some form of non-bank debt, compared with just 17% in 2011.

Read our analysis on this trend here.

Investments
The fund will invest in senior secured loans to European mid-market companies. The fund aims to directly originate transactions where it can provide alternative financing.

People
Tim Flynn is the CEO of Hayfin.

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• Topics
• Funds
• Fundraising
• Senior debt