John Bakie
The fund will focus on lower mid-cap opportunities across Western Europe’s major economies.
The vehicle will provide a mix of debt and equity for management teams in French and German businesses.
The deal is AnaCap’s second CQS transaction of loans to public sector employees.
The fund will focus on investing in smaller firms but can arrange loans up to €100m alongside LPs.
The fund reached its initial target after just 16 weeks despite challenging lockdown conditions.
There is still demand for alternative finance, and this is set to grow further as government schemes are pulled back.
The vehicle will focus on European credit opportunities with strong ESG criteria.
The fund had received support from the EIF to boost capital availability to SMEs.
The fund offers a mix of bank loans and long-term finance through a partnership with the wider BNP Paribas Group.
The deal could be one of the largest unitranche transactions ever arranged.