CAPZA1 and Amiral Gestion have held the first close of Artemid Senior Loan III (ASL III), the third fund of their joint subsidiary, at close to EUR400 million, which comparable to the size of the previous fund (EUR413 million).Raised in just a few months thanks to the renewed confidence of its historical investors (insurers, mutual insurance groups, French institutions and family offices) and the arrival of new subscribers (pension funds, foreign insurers, etc), this third vintage of the Senior Loan fund has been a great success, demonstrating the relevance of the investment strategy and the robustness of the team’s track record.
This new vehicle will deploy the same strategy as the previous funds: providing five to seven year senior “bullet” loans ranging from EUR5 to EUR40 million (and up to EUR100 million in partnership with investors in the Artemid Senior Loan funds) to “smidcap” borrowers with an EBITDA between EUR8 and EUR100 million and moderately leveraged.
The Artemid Senior Loan funds have thus accompanied, as arranger or co-arranger, or in the context of syndications, around fifty companies since 2014, with recent investment in Sicame or Sintex NP, and new investments underway.
“The success of Artemid Senior Loan III’s fundraising underlines the relevance of our positioning in senior financing for small and mid-cap companies and the quality of the support provided by the Artemid platform,” says Nicolas Komilikis, Managing Director of Amiral Gestion and Artemid.
“We are very pleased with the positive feedback on this third fund and the renewed trust of our investors in the Artemid Senior Loan funds. This confirms the solidity of our approach based on a dedicated team supported by two great SME specialists, Admiral Gestion and CAPZA, , which contributes to nurture a quality deal flow,” adds Laurent Bénard, Managing Director of CAPZA and President of Artemid.
Annie-Laure Servel, Managing Partner at Artemid says: “The flexibility offered by this vehicle since its first generation has already attracted many entrepreneurs and shareholders that we have supported over the years, as is the case with Redspher, Paragon or Bruneau, for example.”
Artemid’s four funds now manage or advise close to EUR1 billion of assets.