Private equity firm Idinvest Partners is finalising commitments for its SME-focused senior debt fund, with a view to holding a final close on €250 million by the end of June.
The fund, Idinvest Dette Senior, will finance senior acquisition debt incurred by unlisted European companies with solid fundamentals, moderate leverage and a robust business model, the firm confirmed to Private Debt Investor.
The fund has already carried out four corporate financing transactions. The firm has invested in Geneva-based trust and corporate management firm InterTrust, Austrian technology provider UC4, and airfield operations firm, ADB Airfield Solutions, a spokeswoman for Idinvest confirmed.
Christophe Bavière, chief executive of the firm, said the main incentive driving the fund was “to finance SMEs seeking rapid growth”. He believes that current market conditions for the acquisition of debt “are excellent, both in the primary and the secondary segments”.
On the LPs side, commitments have been sourced primarily from European insurance companies. The fund will be managed by Eric Gallerne, former head of Groupama Private Equity’s mezzanine operations, who joined Idinvest Partners last year.
Idinvest Partners currently manages €600 million in corporate finance assets.