European Capital Debt Management has closed European Capital UK SME Debt. The fund will provide debt finance in small and medium sized enterprises in the UK.
European Capital Debt Management Limited (“ECDM”) announced today that it has closed its new £100 million fund, European Capital UK SME Debt LP, a fund to provide debt finance in small and medium sized enterprises in the UK. The fund will invest in businesses with a turnover of up to £100 million. The British Business Bank is committing £50 million to the fund under the British Business Bank Investment Programme. The remaining £50 million is being committed by European Capital Limited and its affiliates.
“We are delighted to announce the closing of our new fund, European Capital UK SME Debt LP,” said Juan Carlos Morales Cortes, Director. “We look forward to providing finance and supporting UK small and medium sized businesses through this fund.”
Keith Morgan, CEO, British Business Bank, said: “We are very pleased to be making this investment, which will deliver substantial additional funding to a much-needed area of SME financing. This is a significant investment, enabling an experienced US non-bank lender to establish a dedicated UK smaller company lending fund, bringing greater choice to the business finance market.”
ABOUT EUROPEAN CAPITAL DEBT MANAGEMENT
European Capital Debt Management Limited is a UK investment manager authorised and regulated by the Financial Conduct Authority and is approved as an Alternate Investment Fund Manager (“AIFM”) under the Alternate Investment Fund Managers Directive (“AIFMD”). It is an indirect wholly-owned affiliate of American Capital, Ltd. (“American Capital”).
ABOUT EUROPEAN CAPITAL
European Capital Limited is an investment company for pan-European private equity, mezzanine, unirate and senior debt investments and has invested over €3.6 billion in over 100 portfolio companies, in a diverse range of industry sectors, since inception. European Capital currently has €0.9 billion in assets under management. European Capital is a wholly-owned affiliate of American Capital. It is managed by European Capital Asset Management Limited (“ECAM”) an indirect wholly-owned affiliate of American Capital. ECAM and its affiliate European Capital Financial Services Ltd. (“ECFS”) have offices in London and Paris. As of 30 June 2014, ECFS had 24 investment professionals and employed 31 support staff. European Capital and its affiliate, American Capital, will consider private equity transactions in euros or sterling of up to 400 million for One Stop Buyouts® and 10 million to 100 million for senior, mezzanine and unitranche debt investment opportunities. For further information, please refer to www.EuropeanCapital.com.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products. American Capital manages $19 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $83 billion of total assets under management (including levered assets). Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC), American Capital Mortgage Investment Corp. (Nasdaq: MTGE) and American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with approximately $11 billion of aggregate net book value. From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.
ABOUT BRITISH BUSINESS BANK AND THE INVESTMENT PROGRAMME
The British Business Bank is supporting economic growth by bringing together public and private sector funds to create more effective and efficient finance markets for smaller and medium-sized UK businesses. It is a key element of the Government’s Industrial Strategy, and it is already contributing to making the UK the best place in Europe to start, grow and finance a business.
The British Business Bank programme is currently run directly by the Department for Business, Innovation and Skills and is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority. British Business Bank plc will operate as a Government-owned financial institution once HM Government has received European Commission State aid clearance, which is expected in late 2014.
Contact: European Capital Debt Management Limited + 44 207 539 7000
Juan Carlos Morales Cortes, Director;
Nathalie Faure Beaulieu, Director;
Ira Wagner, Director
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