European lower mid-market private debt manager Beechbrook Capital has raised 67 million euros ($86 million) at the first close of its latest fund, Beechbrook Mezzanine II. With pledges of a further 25 million euros for additional closes later in the year, Beechbrook is well on course for its target fund size of 100 million euros to 120 million euros.
Beechbrook Capital, one of Northern Europe’s most active lower mid-market private debt managers, has raised €67 million at the first close of its latest fund, Beechbrook Mezzanine II. With pledges of a further €25 million for additional closes later in the year, Beechbrook is well on course for its target fund size of €100 million to €120 million.
Beechbrook Mezzanine II has been backed by six institutional investors, including the European Investment Fund and the UK Department of Business, Innovation and Skills (in conjunction with the Business Finance Partnership scheme), both of which are responding to the continuing dearth of funding available to lower mid-market companies from banks and mainstream institutional lenders.
The scarcity of traditional finance is reflected in the excellent deal flow being seen by Beechbrook. The firm specialises in supporting smaller and medium-sized private companies with an enterprise value of €10 million to €100 million across a range of industries in the UK and Northern Europe. Its strong team of investment professionals, led by Nick Fenn and Paul Shea, has already identified a promising pipeline of investment opportunities. They expect to make several investments before the end of 2013.
Beechbrook’s first fund, which raised around €100 million, is fully invested in a portfolio comprising 16 companies across its four target regions: the UK and Ireland, the Nordics, Benelux and the German-speaking countries.
For further information, please contact: Nick Fenn, Beechbrook Capital,
020 3551 5970
Caroline Cecil, Caroline Cecil Associates,
020 7610 4110
Note to editors
Beechbrook Capital, a specialist fund manager founded in 2008, actively lends to and invests in SMEs across a range of industries in the UK and Northern Europe. Beechbrook supports companies with a typical enterprise value of £10 million to £100 million, investing an average of £4 million to £7 million per transaction. The mezzanine finance Beechbrook provides often fills a funding gap between equity and bank debt faced by SMEs as banks focus on big corporate and capital market activities. Beechbrook is backed by institutional investors drawn to the attractive risk-adjusted, circa double digit returns it provides.