LGT European Capital has provided unitranche financing facilitating the buyout of a Spanish dining brand, according to a company announcement. The firm, previously known as European Capital, was acquired by Swiss-headquartered alternative asset manager LGT Capital Partners earlier this year.
The financing consists of a €24 million facility. It is being provided to private equity shop Bluegem Capital Partners to be used in the acquisition of Spanish dining brand Lateral. Further details regarding the financing could not be determined by time of publication.
LGT European Capital manages two debt funds. The firm closed its European Capital Private Debt Fund in April 2016, raising €473.5 million. It also manages a UK-focused SME fund.
In March, LGT announced it had come to an agreement to acquire European Capital from its parent company American Capital. The move was billed by the acquirer as an attempt to enter the private debt space. The acquisition closed in June.
A spokesman for LGT did not return calls seeking additional comment by time of publication.