Kartesia raises €1.3bn for credit opportunities fund

Kartesia has raised €1.3bn (£1.1bn) at the final close of its latest credit opportunities fund, having reported growing interest from new investors and the wealth market.

Kartesia Credit Opportunities (KCO) VI attracted a mix of US, European, Middle Eastern and Asian investors.

There were more than 25 new institutional investors to the strategy representing nearly 50 per cent of the capital, which Kartesia said reflected growing interest from investors looking to gain exposure to opportunistic European private credit.

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KCO VI also saw significant growth in commitments from private wealth investors, growing to over 20 per centof total capital compared to less than 10 per cent for the prior vintage.

50 per cent of the capital has already been deployed.

The asset manager’s credit opportunities strategy, first launched in 2013, focuses on the European lower mid-market, predominantly in sponsorless deals.

Investors have earned over €2.3bn from previous vintages, with returns exceeding 14 per cent.

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“We are pleased to announce the successful closing of KCO VI given challenging macro-economic conditions which have caused significant liquidity issues for LPs across the board,” said Laurent Bouvier, managing partner at Kartesia.

“The KCO strategy continues to return capital to investors at an attractive rate of return and with borrower demand also staying high, we remain confident in the ability of our deal teams to source exciting investment opportunities. We’d like to thank all existing and new investors for their continued support in this fundraising round, which will allow us to continue to finance a vibrant European lower mid-market.”

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