Muzinich holds €156m first close for Italian debt fund


Italian_flagInvestment firm Muzinich has held a first close of €156m for its latest debt fund, which is focused on financing Italian SMEs.

The firm’s Italian Private Debt Fund has secured commitments from Italian and non-Italian institutional investors including insurance companies, pension funds, banks and family offices.

Muzinich said that the fund has already received significant interest from potential investors for a second closing, which is expected later in 2014.

The firm is currently looking at other European markets including the UK for similar private debt opportunities and assessing investor appetite for such funds.

Italian Private Debt Fund targets companies with revenues of €50m to €500m and an EBITDA of at least €7.5m, providing five to seven year loans of between €10m and €20m to fund international expansion.

It will focus on industrials, consumer goods, food, luxury, retailing, healthcare, communications, transport and business services.

Other Italian-focused funds currently in the market include United Ventures’ debut vehicle, which recently held a second close.

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