Cerea launches first regional mezzanine fund seeking up to €150m
French credit specialist Cerea Partners has launched a new mezzanine debt fund seeking up to €150m (£125m) to finance sustainable transition of small and medium-sized businesses along France’s Atlantic coast.
Mezz Ouest Solutions (MOS) is the firm’s first regional mezzanine debt fund to support the growth of SMEs and mid-caps in the area and is backed by local banks Caisse d’Epargne Bretagne Pays de la Loire and Caisse d’Epargne Aquitaine Poitou-Charentes. The two banks will invest up to 20 per cent of the target size.
The minimum target for the fund is €120m, allowing investors to commit between €2 and €10m. It will be open to institutional investors and large corporates, as well as informed private clients, from December.
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The fund will fund companies that have their headquarters or a significant portion of their activity in Brittany, Pays de la Loire or Aquitaine and Poitou-Charentes regions.
“Through this innovative partnership, Cerea Partners will expand its capacity and intervention threshold in mezzanine debt by addressing the needs of companies in all sectors of activity,” commented Fabrice Vidal, deputy managing director of Cerea Partners in charge of private debt.
“This is the first time that Cerea has offered financing beyond its sectoral specialty focused on the agri-food value chain, following a competitive tender launched by the Caisses d’Epargne of the regions concerned, which confirms its expertise in this type of financing.”
Cerea has raised €2bn since it was founded 20 years ago, and has made around 200 investments.
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