Macfarlanes has advised Muzinich & Co, a corporate credit management specialist, on the launch of its first European Long-Term Investment Fund (ELTIF), Muzinich Firstlight Middle Market ELTIF, which has held its first closing at more than EUR140 million.
This fund will seek to invest mostly in syndicated loans and private debt instruments, and may also invest in bonds and junior investment opportunities. As an ELTIF, it is available for investment by retail investors in the UK and Europe, allowing them access to long-term asset classes historically only available to professional investors. It is one of the first ELTIFs to be launched and perhaps the only which is expected to originate loans directly to underlying borrowers.
The Macfarlanes team was led by investment management partner Sam Brooks, with tax advice provided by tax and reward partner Damien Crossley.
Brooks says: “We are really pleased to have helped Muzinich & Co with this exciting project and look forward to its continued success.”
