NorthWall Capital closes €640m European opportunities fund
Credit investment firm NorthWall Capital has announced the final close of its European Opportunities Fund II and associated vehicles, with more than €640m (£539.5m) raised.
The fund has surpassed its €500m target, more than doubling the size of its predecessor, NorthWall European Opportunities Fund I.
NorthWall’s European opportunities strategy was established at the firm’s inception in 2017. It invests across opportunistic private credit in Western Europe.
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NorthWall claims to take a systematic sourcing approach, coupled with a focus on creating bespoke funding solutions, enabling it to structure opportunities that deliver strong downside protection while targeting uncorrelated returns.
Prior to the final closing, Fund II was already substantially deployed, having committed approximately 60 per cent of its capital to 14 transactions across five countries in Western Europe.
The fund attracted a global base of institutional investors, consisting of pension funds, insurance companies, large institutional single and multi-family offices and private banks from across Europe, North America and the Asia Pacific region.
It also received support from a large US-based consultant and an Australian superannuation fund.
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“We are honoured by the success of the fundraise for NWEOF II and would like to thank our existing and new investors globally for their partnership,” Fabian Chrobog, founder and chief investment officer of NorthWall Capital, said.
“We remain committed to delivering scalable investment opportunities that generate attractive risk-adjusted returns for our investors while also serving as a reliable partner to our counterparties. We continue to observe one of the most compelling opportunity sets in European credit in recent history and will continue to thoughtfully scale NorthWall in a way that allows us to lean into areas of dislocation.”
NorthWall’s principals have been investing in European private credit for nearly 20 years, and the team has deployed more than €1bn in the European opportunistic credit strategy to date.
In addition to the flagship funds, the firm has expertise in legal assets, asset-backed and senior lending opportunities.
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