Beechbrook passes hard cap with €151m close

The London-headquartered mezzanine firm has also agreed its first German deal and bolstered its team by bringing in Graphite Capital's Alan Chu.

UK-based mezzanine specialist Beechbrook Capital has held a final close for its second fund on €151 million, just past its €150 million hard cap the firm has confirmed.

Beechbrook won commitments from six additional LPs following a second close last month on €110 million, taking the total number of investors in the fund to 14.

The firm has also completed two investments, including its first in Germany. It supplied a unitranche loan to help finance the buyout of German car repair company Douteil Smart Repair by Constellation Capital, and in its second deal, invested via mezzanine and equity in British chemicals group Stan Chem.

The two investments are the sixth and seventh respectively using capital from the fund, which is now one third deployed, the firm said. 

Lastly, Beechbrook has enlarged its team with the addition of Alan Chu as finance and operations director. He will begin work at the firm on 1 September. Chu joins from private equity firm Graphite Capital, where he was financial controller of the firm's limited partnership funds. Prior to Graphite, he worked at PricewaterhouseCoopers.

Nick Fenn, (pictured) who founded Beechbrook Capital alongside Paul Shea, said: “Alan’s appointment strengthens our management team as Beechbrook passes an important milestone with the final closing of our second fund and the completion of two more investments including our first in Germany.”

Fenn recently took part in PDI's UK roundtable, which can be read HERE