Idinvest Partners said May 16 that its fourth direct lending fund closed on 715 million euros ($843.67 million), surpassing its 600 million target. Idinvest Private Debt IV focuses on the European lower mid-market segment (enterprise value of between 35 million euros and 250 million euros).
Idinvest closes its fourth direct lending fund at €715m
Paris, 16 May 2018
Idinvest Partners, a leading investor in SMEs across Europe, has today announced the final closing of its fourth direct lending Fund (Idinvest Private Debt IV), at €715m, surpassing its initial target of €600m. More than 60% of the investors are from outside France.
Since its launch in 2016, the Idinvest Private Debt IV fund has invested 60% of its total commitments across 17 companies, of which more than 40% based outside France.
Focusing on the European lower mid-market segment (enterprise value of between €35m and €250m), Idinvest’s Private Debt team arranges primarily unitranche financings for tickets ranging from €10m to €75m.
“We are delighted with the successful fundraising of our latest Private Debt investment vehicle. The team managed to increase geographical diversification across Europe, as almost half of the 2018 deals arranged were located outside France,” said François Lacoste and Eric Gallerne, Partners in charge of Private Debt at Idinvest.
“We are confident that the Private Debt market will continue to offer further opportunities for Idinvest moving forward. Our 10 years of experience in the European lower mid-market segment will be key to catch the best opportunities for our investors.”
Idinvest’s Private Debt activity enjoyed strong momentum during Q1 2018, with over €120m invested across 7 companies such as Technicis, Zodiac Milpro and Gravotech in France or Halex Group and GS Star in Germany.
This success follows the Private Debt team’s record-breaking year in 2017, having invested almost €900m across 45 companies in Europe. Idinvest’s reach across Europe has been aided by its multi-national private debt team, which consists of 16 investment professionals with offices in Paris, Frankfurt and Madrid. Idinvest Private Debt manages more than €3bn, around a third of Idinvest’s total assets under management.