Idinvest Partners has held the first closing of Idinvest Private Debt III at EUR235 million.
The final closing, which is scheduled for the end of 2014, is likely to exceed the fund’s initial target of EUR300 million.
Idinvest Private Debt III is a fund dedicated to mid-sized European companies with a view to supporting them in their growth or LBO.
The fund targets investments of EUR5m to EUR20m in mid-sized European SMEs through mezzanine debt financing and secondary market deals (purchasing mezzanine debt on the secondary market).
Idinvest Private Debt III has already carried out three investments – Park & Suites, J&S Automotive Technology and Maxeda – and a fourth project is currently being finalised.
Christophe Bavière, chairman of the board of Idinvest Partners, says: “Idinvest Private Debt III has already attracted prestigious French and international institutional investors, including banks, insurance companies, pension funds, mutual insurance companies and family offices, and we are proud of the confidence they continue to have in our team’s capabilities.”
François Lacoste, partner at Idinvest Partners, says: “Idinvest has proven its ability to arrange mezzanine debt deals throughout Europe; this was recently demonstrated via the funding made available to first-tier German components supplier, J&S Automotive.”
