Golding Capital Partners has secured capital commitments of €75 million at the first closing of its inaugural dedicated co-investment fund in the private credit asset class. Golding Private Debt Co-Investment 2021, which has a target volume of €200 million, gives institutional investors access to a broadly diversified range of conservative direct lending transactions.
Golding has been making successful private credit investments since 2017 and will leverage its excellent network and long-term track record, with assets of some €4.6 billion currently under management in this asset class.
The fund’s investment focus is on first lien senior lending to small and medium-sized enterprises in Europe. In order to draw down and deploy capital swiftly, two initial investments have already been made and two additional transactions are set to close soon.
One of the recipients of the two loans made to date is a fast-growing software company that offers innovative B2B solutions in the e-commerce sector, and so profits from the structural growth of online purchasing and procurement. The other borrower is a market leader in the roof refurbishment business. Its business model is characterised by stable customer demand and great resilience in a downturn. Two more similarly conservative lending transactions are due to close shortly.
The fund Golding Private Debt Co-Investment 2021 is structured as a Luxembourg SCS SICAV-FIAR and has a lifetime of eight years. Golding is aiming for a return of at least 7.0 to 8.0 per cent net IRR p.a. and plans to hold a final closing in the second half of 2023.
