IdInvest holds final close on €400m

The Paris-headquartered firm comfortably exceeded its target of €300 million for its second generation senior debt fund.

IdInvest Partners has held a final close for its second senior debt fund on €400 million, the firm confirmed today in a statement.

IdInvest Dette Senior II exceeded its €350 million hard cap, and takes the Paris-headquartered firm’s overall private debt assets under management to €1.2 billion.

Its first senior debt fund raised €281 million in 2013 and is now fully invested.

The new fund will provide senior debt financing to support the acquisition and development of non-listed European companies, the firm said, mirroring the strategy of its predecessor.

François Lacoste, a partner at the firm, said: “Idinvest is building on its ability to specifically address the midcap leveraged finance segment and holds its own as a major player in the European private debt market.”

The firm is also in market with its third mezzanine vehicle, IdInvest Private Debt III, which held a first close on €120 million earlier this year as it aims for €300 million in commitments.