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RiverRock holds final close of European SME direct-lending fund

RiverRock European Capital Partners has held the final closing of its European Opportunities Fund (EOF).



The close is built upon new commitments from major European institutional investors, family offices, the German Ministry of Economics and Technology and LfAFörderbank Bayern.

These investors will join existing investors, including the European Investment Fund (EIF).

The final close brings the EOF to approximately EUR169m (USD207m) in capital commitments.
 
The EOF is a five-year fund targeting direct lending to strong, small to mid-sized European companies that require growth or working capital in order to develop their businesses. The EOF typically deploys between five and 15 million Euros per investment and works actively with a borrower’s management to strengthen and grow the business.
 
Jason Carley, chief investment officer of EOF, says: "We are grateful to our investors for their support for this innovative product and look forward to deploying the commitments we have received in supporting European small and medium sized companies. Lending conditions have remained very hostile for these companies as the European sovereign and banking crisis has continued. This creates an opportunity for the EOF to support solid companies that do not have access to traditional funding sources whether for growth or refinancing."
 
RiverRock chief executive Florian Lahnstein (pictured) adds: "We appreciate the support of our new and existing investors in getting us to this result. In particular, the commitments of the German Ministry of Economics and Technology and LfAFörderbank Bayern show that the EOF strategy is very timely in a difficult economic environment. We are very pleased with this result in what is a very challenging fundraising environment."

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