CIC Private Debt targets €300m for large cap fund
Asset manager CIC Private Debt has launched its third large cap fund with a target of €300m (£257m).
The CIC European Large Cap Senior Debt Fund 3 will aim to finance companies with core earnings of more than €100m.
The fund will be run by a dedicated team of six people based in London, led by Steve Dunn. It will invest in a portfolio of senior secured loans provided to companies rated between B and BB- by S&P.
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Founded in 2003, the private debt specialist managed €3.2bn in assets on behalf of institutional and private clients. The senior large cap debt team currently has €521m in assets under management and has so far made more than 180 investments.
In addition to the launch of the new fund, CIC is also continuing to raise capital for its Mezzanine and Unitranche Financing 6 strategy, which has attracted €300m so far. The fund has a hard cap of €450m.
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