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Golding private debt fund secures EUR331m at first closing

Golding Capital Partners (GCP) has received commitments of EUR331 million for its private debt investment programme, Golding Private Debt 2016.

After five months of fundraising this means 55 per cent of the EUR600 million target volume has already been secured at first closing.
"With interest rates at their current low levels, alternative investments are indispensable for institutional investors. High-yield investments in the private debt segment are increasingly an alternative to institutional investors' traditional fixed income allocation,” says Jeremy Golding, founder and managing partner of GCP.
The investment strategy of Golding Private Debt 2016 is focused on corporate acquisitions and funding for fast growing mid-market businesses in Europe and the US. This consists principally of senior loans, but also of subordinated debt such as mezzanine, as well as unitranche debt (a combination of senior and subordinated financing components).
GCP also invests in funds with opportunistic credit strategies in order to stabilise the fund during phases of market uncertainty. The aim is to build a broadly diversified portfolio of around 300 loans. With these strategies investors benefit from different yield components, which may also include equity-like elements in addition to current interest payments.
The predecessor fund, Golding Private Debt 2014 SICAV, also saw strong demand from institutional investors, closing heavily oversubscribed at EUR413 million in late 2015. A total of 23 institutional investors subscribed to GCP's current investment programme at its first closing, including insurance companies, pension funds, banks and savings banks. Ninety per cent of commitments came from existing investors.
"We are delighted by the strong interest. In addition to our broad-based strategy, many investors were convinced by our long experience and strong track record,” adds Hubertus Theile-Ochel, managing partner at GCP.

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