Following on from the success of its inaugural €250m private debt fund, Investec Alternative Investment Management (IAIM), a subsidiary of Investec Bank (Investec), has held the first close of its second Private Debt Fund (PDF II) at €200m.
The fundraising represents 40% of PDF II’s target subscription level of €500m.
PDF II is a closed-ended, Luxembourg-based special limited partnership fund, focused on providing senior secured debt (including unitranche) and subordinated debt for private equity and corporate-backed businesses with EBITDA between €3m and €50m, primarily located in the UK, Ireland, Benelux, and DACH regions.
The fund primarily targets growth-oriented businesses underpinned by defensive business models which is a segment underserved by banks and fund providers. The fund is managed by Investec’s Direct Lending team, comprising over 50 investment professionals, with extensive experience in UK and European lending to small and mid-sized corporates. PDF II can invest in all eligible investments originated by the Direct Lending team, leveraging the full breadth of the Investec platform.
Over the last 14 years, the Direct Lending team has sourced over €9.5bn in loans across more than 330 transactions; benefiting from a flexible lending mandate and a proven investment team. With a core focus on capital preservation, investors can access a scalable source of proprietary investment opportunities.
