Idinvest Partners announced on Tuesday that it closed its latest senior debt fund worth Eur281 million or £2240.8 million. The new fund will be called Idinvest Dettle Senior. This new senior debt vehicle has exceeded its primary target of Eur250 million.
Idinvest Partners is a pan-European private equity company with backing from major and important institutions. The new fund increases Idinvest Partners' profile in the private debt sector. The company currently has over Eur600 million worth of assets in the sector under its management.
The vehicle will finance the senior acquisition debt subscirbed Euro zone companies that are unlisted. The fund will finance their solid foundations, moderate leverage and business models. The company targets SMEs that are already known in their fields. These target companies are considered winning options in this current time of European recession.
Christopher Baviere, chief executive officer of Idinvest Partners, explained the current Euro zone recession in relation to their fundraising. "For example, the fund has helped Averys, a leading French manufacturer of pallet racking and shelving production, to take control of its Belgian competitor Stow International while allowing Novacap, a chemical group which provides intermediate chemical products used into a large range of end-markets, to make a significant strategic acquisition in China. It has also facilitated the international development of ADB, the world leader in airfield ground lighting products, systems and equipment," he said.
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