Specialist credit manager Muzinich & Co has reached the third close for its pan-European private debt fund at €460 million.
The fund will focus on lending to companies in the lower, mid-market sector, with earnings before interest, tax and depreciation (EBITDA) of €5-25 million. It is one of six private debt vehicles managed by the firm, which has provided flexible financing solutions to small and medium-sized companies since 2014. Muzinich & Co co-head of private debt, pan-European, Kirsten Bode, commented: “We are one of very few private lenders in the lower middle market with a Pan-European offering. We have a large team of investment professionals and a local presence across Europe with offices in seven key markets. We believe this gives us a significant advantage in accessing a broad and diverse market in order to generate attractive IRRs for our investors.”
Using locally-based teams across Europe for deal sourcing and origination, the fund will concentrate on financing growth capital opportunities for lower mid-market companies, looking at acquisitions and expansion. The fund is expected to make a final close later in 2018.