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Idinvest caps rapid return to SME debt fundraising with €400m Fund II close

9 Jul 2014

euroEuropean private equity firm Idinvest Partners has beaten its target for its second SME senior debt fund by holding a €400m final close for the vehicle.

Idinvest now has more than €1.2bn of assets under management following the close of Idinvest Dette Senior II, which was initially hoping to raise €350m.

The new vehicle marked a rapid return to fundraising in the niche for Idinvest, which only closed IDS I in July 2013.

That fund, which raised €281m, is now fully invested according to the firm.

It said IDS II would provide senior debt financing for acquisitions and development of non-listed European companies with solid fundamentals.

Idinvest partner Eric Gallerne said, “IDS II will deploy the same strategy as its predecessor.

“Because of its size it will provide even better support for growth in French and European SMEs”.

Fellow partner François Lacoste, added, “Idinvest is building on its ability to specifically address the midcap leveraged finance segment and holds its own as a major player in the European private debt market.”

Idinvest was part of the Allianz Group until 2010, when it joined forces with IDI Group to become an independent firm.

In April Paris-headquartered Idinvest closed its second fund focused on the secondaries space on €214m, beating the fund’s initial €200m target.

Idinvest Secondary Fund II will continue the strategy of its predecessor fund by focusing on mature secondary transactions in the European small and mid-market, the firm said.

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