Capza raises €2.5bn for sixth private debt fund
French private investment firm Capza has closed its sixth vintage of its private debt fund with €2.5bn (£2.1bn) raised.
The Paris-headquartered company said that the fundraise was “in line with its ambition” and exceeded the amount raised for the previous vintage by around 50 per cent.
Investors included insurers, fund of funds, public institutions, pension funds and family offices globally.
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The fund finances mid-market corporates mainly in France, Germany, Benelux, Spain, and Italy through unitranche and subordinated debt. It focuses on non-cyclical sectors such as healthcare, tech and B2B services.
The fund has already performed 24 deals and is more than 60 per cent invested.
Capza said that the sixth vintage also integrates a reinforced approach to environmental, social and governance (ESG) credentials.
In addition to a detailed ESG analysis of borrowers ahead of the transaction, sustainable performance targets (currently on 70 per cent of the portfolio) are integrated into the deal’s financial terms.
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“We are extremely grateful to our historical investors for showing renewed confidence in us and to the new LPs who have invested in a challenging macroeconomic environment,” said Guillaume de Jongh, managing partner at Capza.
“This highlights the fact that private debt has now become a core component of institutional investors’ alternative bucket and confirms the quality of Capza’s proven private debt track record. Our goal is to continue diversifying our LP base internationally in the next vintage.”
A seventh fund is being prepared in line with Capza’s historical private debt strategy.
Capza’s private debt team has arranged €6bn of transactions since 2004.
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