Kartesia raises €1.8bn for second-generation senior debt fund
European finance provider Kartesia has raised €1.8bn (£1.53bn) for a second generation senior debt strategy, Kartesia Senior Opportunities, beating its target of €1.5bn.
The second iteration of the senior opportunities strategy is almost twice the size of its predecessor, which closed at €1bn in March 2021.
The Kartesia Senior Opportunities strategy invests only in first lien secured loans. It will target European small- and medium-sized enterprises (SMEs) which are seeking to stabilise and expand their businesses. The fund will be supported by the Kartesia platform, which manages a total of €6.7bn.
The new strategy has already deployed 60 per cent of its fund size in 30 portfolio companies, across seven countries and 10 MSCI industries.
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“This is another important milestone for the company as we continue to expand our geographic footprint and strengthen our position as one of the leading lenders to support the growth of Europe’s most exciting and innovative SMEs,” said Damien Scaillierez, managing partner at Kartesia.
“Our commitment of capital to 30 European companies through this second fund demonstrates our ability to originate and execute transactions that effectively meet the needs of portfolio companies while also delivering stable returns for our investors.
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“We look forward to the continued growth of the Kartesia Senior Opportunities portfolio and would like to thank our investors, employees and other stakeholders for their continued support, hard work, and dedication.”
The fund has already completed a number of transactions including supporting FCDE and Exens Group with the acquisition of Bowen Systems; the provision of additional capital to Clearway Group for its acquisition of Secontec; and a unitranche financing package for Cemedis Group.
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