Eurazeo has raised €480m (£414.2m) for a personal debt continuation automobile backed by Pantheon at shut.
The Paris-based funding agency stated the continuation fund automobile will maintain present loans from Eurazeo’s legacy non-public debt platforms, with investor Pantheon offering extra capital. This can give Eurazeo recent lending capability to help European middle-market corporations.
Learn extra: Eurazeo AUM rises 4pc to €36.8bn
“We’re happy to ship a tailor-made and highly-attractive resolution for our restricted companions (LPs) whereas partnering for the long run with Pantheon, a number one international participant in credit score secondaries,” stated Nicolas Nedelec, associate in Eurazeo’s non-public debt staff. “This transaction demonstrates the depth of our non-public debt platform and our dedication to proactively managing the lifecycle of our funds in the very best pursuits of our traders.”
Based on Eurazeo, the continuation fund will present liquidity to LPs whereas sustaining stability for the underlying property.
Learn extra: Eurazeo noticed 86pc rise in non-public debt fundraising final 12 months
“We’re delighted to proceed increasing our present relationship with Eurazeo by supporting this continuation fund. Eurazeo’s confirmed experience in managing these property and originating high-quality transactions was a key driver of our conviction,” stated Toni Vainio, associate and head of European non-public credit score at Pantheon. “The transaction illustrates our means to design scalable and bespoke secondary options in non-public credit score, benefiting each new and present traders.”
Learn extra: Eurazeo eschews non-public credit score for upcoming CLO