Access promotes staffers following fundraising

Paris-based Access Capital Partners has made two promotions and a new hire after the first close of its latest fund.  

With the first closing of its Access Capital Private Debt Fund II, the firm has appointed Christopher Underwood as partner mezzanine and private debt. Underwood, who joined Access in 2011, has 12 years of experience in leveraged finance and direct mezzanine investments. 

Access has also promoted François Desprez de Fresnoye to partner head of legal and appointed Wealon Bouillet to the role of risk management and compliance director.

The appointments come hard on Access Capital’s announcement last week that it’s new fund had reached €56 million at first close. The firm is targeting €150 million for Access Capital Debt Fund II which will focus on private debt and mezzanine investments in European small- to mid-market corporates.

The fund will focus on direct co-investments supplemented by primary and secondary commitments to other private debt and mezzanine funds. Annual cash yields from investments are anticipated to be a substantial part of the fund’s total return, according to the firm’s statement.

The fund has made its first co-investment in Marle, a European biomedical implant manufacturer. It has also committed capital to a European mezzanine fund.

Access has €5.4 billion in assets under management, which include private equity, private debt and infrastructure investments.