European subordinated debt provider MezzVest raises €585m fund


European subordinated debt provider MezzVest has held a final closing of its third fund, MezzVest III, on €585m.

The London-based firm focuses on financial-sponsored midcap companies located or headquartered in Western Europe.

FIRSTavenue served as the sole global placement agent for the fund.

Established in 2000, MezzVest is the mezzanine finance arm of European mid-market private equity firm CapVest. It provides mezzanine financing and has deployed over €3.5bn through 200 subordinated debt financing deals.

Last year MezzVest was initially said to be targeting a June 2013 close, following a series of three or four rolling closings. The firm closed its second mezzanine finance fund on €570m back in 2005.

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