Lower mid-market lending specialist Muzinich has appointed Grant Davidson as a director for its UK private debt strategy.
Previously senior origination director at South African private investment firm Investec, where he specialised in seeking deals with UK companies with EBITDAs up to £15 million (€17.7 million; $19.6 million), Davidson is responsible for sourcing opportunities for Muzinich’s UK-focused debt vehicle.
Davidson has also served as chief financial officer at LGC Standards, a chemical research company, and as an associate partner at Lyceum Capital, a UK-based private equity firm.
Marc Shirman, Muzinich’s co-head of UK private debt, said: “In transactions requiring junior capital and equity, Davidson’s expertise and experience will be invaluable.”
Davidson said: “Muzinich has committed to the direct lending space with a team of 21 globally. Their progress in a short time is impressive and I hope to further accelerate the growth of the business.”
Muzinich is seeking to raise £350 million on a final close for its UK debt fund. In January, the firm held its first close after raising £185 million. Both sponsored and non-sponsored companies with EBITDA of £3 million to £20 million are the target of investments and arranging ticket sizes of up to £30 million. Investors in the fund include the Strathclyde Pension Fund, which has committed £20 million as well as the European Investment Fund and British Business Fund, which have invested €59 million and £30 million respectively.
Headquartered in New York, Muzinich has $25 billion assets under management. Operating from offices in London, Manchester, Cologne, Madrid, Milan and Zurich, the firm manages individual debt vehicles targeting investments in France, Spain and Italy.