Beechbrook targets final close in Q2

The firm announced that it had provided a pair of mezzanine loans totaling €14m Monday.

Beechbrook Capital is targeting a second quarter final close for its Beechbrook Mezzanine II vehicle, partner Nick Fenn told Private Debt Investor Monday.

The firm announced a pair of new mezzanine investments from Fund II on Monday as well. The loans, provided to financial advisers support company Simply Biz and subsea infrastructure services provider N-Sea, total €14 million.

Beechbrook Mezzanine II held a first close on €67 million last year. That fund is now 35 percent invested.

“The current pipeline is encouragingly strong and we expect to close two [to] three further investments in Q1 2014,” Fenn wrote in an an email. “We are hoping to have a second and final close in Q2 2014, the success of which will determine how much longer we will be investing this fund.”

Limited partners in Fund II include the UK government’s Business Finance Partnership initiative and the European Investment Fund, according to Private Debt Investor’s research and analytics provider.

Beechbrook was founded in 2008. The firm specialises in providing mezzanine financing and co-investments in support of private equity buyouts of Northern European companies.