Kartesia hits EUR1.5bn hard-cap for fifth flagship credit fund

Investment fund

European private credit firm Kartesia has held a final close at the hardcap of EUR1.5 billion for the fifth vintage of its flagship Credit Opportunities fund, following the close of its predecessor in 2017 at EUR870 million.

KCO V's recent transactions include supporting Flywheel Partners’ acquisition of ES Global in the UK, the provision of a credit facility to finance the continued growth of Headfirst Group in the Benelux and financing the acquisition of Orbus Software by Silvertree.

The close comes less than two months after the London-headquartered firm announced a final close of EUR1 billiion for KSO I, its inaugural senior opportunities fund. This latest round of fundraising has attracted new investors to Kartesia, with more than 50 percent of the committed capital coming from new investors.

The Credit Opportunities strategy focuses on providing flexible and bespoke credit solutions to lower mid-market European companies across the capital structure in both primary and secondary markets, according to the firm.

Investors are mainly based in Europe, but KCO V has attracted capital from both North America and the Middle East as well. Commitments have come in from strategic institutional investors, pension funds, insurance companies, family offices, and HNWIs, from Europe, the Middle East, Asia and the US.

“The strong fundraising for the latest Credit Opportunities fund reflects the strong track record of the previous KCO vintages and increasing demand for European private credit strategies from investors across the globe,” said Laurent Bouvier, founding partner of Kartesia, who believes the recent strategic partnership with Candriam and NYLIA might accelerate Kartesia's attractiveness towards a larger and diverse pool of capital.

"We also expect it to execute on our strong pipeline of transactions in the sponsorless segment of the market, supporting robust lower mid-market European companies in their continued growth,” he added. Apart from London, Kartesia also has offices in Paris, Brussels, Frankfurt, Luxembourg, Madrid, and Munich.