Equita reaches €131.5m for second private debt fund

The fund has secured the backing of an insurance company and pension fund in Italy.

Equita has closed the latest stage of fundraising for its second private debt vehicle at €131.5 million.

New commitments from an Italian insurance company and Italian pension fund have added to capital already committed by Fondo Italiano D’Investimento and the European Investment Fund.

Equita Private Debt Fund II is targeting €200 million with a €250 million hard-cap and is managed by Equita Capital. The vehicle was first announced in September 2020 with €100 million of capital raised.

The fund has already completed four investments worth €42 million and expects a gross return of 10 percent. Equita said it has also identified a further three potential investments to deploy capital in 2021.

EPD II is able to invest in both Italy and the DACH region, expanding on the geographical reach of its first, Italy-focused vehicle.