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Alcentra holds final closing of European Direct Lending Fund

Alcentra Limited has held the final closing of the Alcentra European Direct Lending Fund, LP (Fund) with investor commitments totalling EUR850,000,000. 

The focus of the Fund is to provide debt financing to middle market companies in Europe. With the closing of the Fund, the firm’s committed capital for the strategy now exceeds EUR1,500,000,000.

 
“Direct lending is a large, attractive, long-term opportunity given the balance sheet constraints of European banks and the historical lack of non-bank lenders,” says Graeme Delaney-Smith, managing director and head of European direct lending for Alcentra. “Our size, experience and sourcing capabilities leave us well positioned, and has allowed us to invest a significant amount of the Fund over a relatively short period.”
 
“As one of the largest managers of sub-investment grade, corporate debt in Europe, direct lending has always been a key part of our business platform,” says David Forbes-Nixon, chairman and chief executive officer of Alcentra. “This fund is a strong endorsement of Alcentra’s capabilities, with global investor participation by pension funds, insurance companies, endowments, foundations, wealth managers and asset managers.”
 
Alcentra has been sourcing and arranging financings to middle market businesses in Europe since its launch in 2003. To date, Alcentra has invested over EUR2.0 billion in middle market companies across senior debt, unitranche, second-lien, mezzanine and equity investments. In 2012, Alcentra was among the first investment managers selected to participate in HM Treasury’s Business Finance Partnership initiative.
 

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