Kartesia’s latest credit opportunities fund closes on €1.5bn

The vehicle is the fifth in the series and has already been deployed in 27 transactions.

Pan-European fund manager Kartesia has closed the fifth in its series of credit opportunities funds on €1.5 billion, easily surpassing the €870 million raised by the prior fund in the series.

More than half the capital raised for Kartesia Credit Opportunities V came from investors new to the strategy. While most of the capital continued to come from investors based in Europe, the firm points out that it also attracted commitments from North America and the Middle East.

While no specific investors were named, they included strategic institutions, pension funds, insurance companies, family offices and high-net-worth individuals.

The firm’s Credit Opportunities strategy provides what the firm describes as flexible and bespoke credit solutions to lower and mid-market European companies across the capital structure, the primary and secondary markets, and often in sponsorless transactions.

KCO V has already completed 27 deals worth more than €500 million. They include supporting the acquisition of UK infrastructure solutions firm ES Global by fund manager Flywheel Partners and providing a credit facility to finance the growth of HR services business Headfirst Group in the Benelux region.

The latest fundraising follows close behind Kartesia’s €1 billion closing of its inaugural senior debt fund at the end of March. That fund provides senior financing only to European SMEs.

With 50 professionals, Kartesia has offices in Brussels, Frankfurt, London, Luxembourg, Madrid, Munich and Paris.