John Bakie
Significant inflows have helped the debt specialist grow assets under management to over €30bn for the first time.
The refinancing will help Fertiberia to expand in Europe and develop more environmentally friendly products.
The deal is the first of its kind in Greece, according to Pillarstone, after the government reformed laws to better protect international investors.
The fund has well over 100 investors and could lend up to €10bn with leverage.
The new fund could lend up to £300m to UK small businesses.
Deal activity has been driven by increased interest in continental Europe.
The sale and refinancing of Cuki means Pillarstone made a full recovery.
The number of deals being done in Europe has declined from last year’s high.
The asset manager has beaten its initial target for its first venture into European mid-market lending.
Private credit is the most popular destination for new allocations.