Golding poised for first close for latest FoF

The German fund of funds manager will hold an initial close on its latest fund of private debt funds on €100 million next week, PDI can exclusively reveal.

German fund of funds manager Golding Capital Partners will hold an initial close next week on €100 million for its latest fund of private debt funds, Jeremy Golding, the firm’s founder and managing director, told PDI.

“We have just launched our next [fund of] private debt fund[s] which is targeting €200 million. We started pre-marketing in Q4 and are just holding an initial close on the first €100 million,” Golding said.

The first commitments have been accepted as at the end of February and the first closing is planned for 31 March.

The fund, called Golding Private Debt SICAV VIII, replicates previous funds of funds operated by the Munich-based firm, which concentrate on senior debt and mezzanine funds with a regional focus on Europe or North America.

The new fund will have the capacity to invest up to 40 percent into supplementary credit strategies such as credit opportunities and distressed debt.

“The regional allocation is well-balanced between Western Europe and North America. It plans to invest in approximately 15 funds in total, providing investors with exposure to 300 or more underlying companies. Diversification by vintage years is anticipated through gradual capital calls and stepwise investments,” Golding said.

In an interview with PDI’s sister publication PEI following the close of its most recent private equity fund of funds, Golding said the firm had opened a New York office in Q3 last year, as it looked to develop its footprint in the US market.