Access Capital Partners holds first close for debt fund

The GP is aiming to raise €150m for the private debt and mezzanine vehicle. The amount raised at first close came from existing investors.

Access Capital Private Debt Fund II focuses on private debt and mezzanine investments in European small- and mid-cap businesses. The vehicle will act mainly as a direct investor, but will also operate as a fund-of-funds committing to a small selection of European debt funds on a primary and secondary basis.

The fund has already made a direct investment in Marle, a biomedical implant manufacturer backed by Carlyle. The vehicle also made a capital commitment to an unnamed mezzanine fund and is currently working on a secondary transaction.

Access held a first close on €190m for its latest fund-of-funds, Access Capital Fund VI Growth Buy-out Europe (ACF VI), at the tail end of last year. The manager was also awarded a mandate for primary and secondary investments in small buyout and growth funds by German pension fund Bayerische Versorgungskammer (BVK) a few weeks later.

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• Topics
• Funds
• France
• Senior debt
• Mezzanine