MV Credit closes senior debt vehicle with €526m

The fund will continue MV’s strategy of investing in defensive upper mid-market companies.

European private debt manager MV Credit has held a final close of its senior debt fund at €526 million.

MV Senior II attracted commitments from both new and existing investors, predominantly made up of international pension funds but also some insurance companies.

Rafael Calvo, managing partner and head of senior debt and co-head of origination at MV Credit, commented: “We have had large interest from new investors fuelled by our longstanding expertise in the sector, the growing interest to allocate to private debt and the current market environment where opportunities for deployment have opened up following the onset of covid-19.”

It will continue the strategy of its predecessor fund, investing in upper mid-market companies in Western Europe with EBITDA of between €30 million and €100 million with a focus on defensive sectors such as healthcare, business services and IT.

The fund has already begun deployment with investments in 38 companies with loans in excess of €240 million. MV Credit said it has a strong pipeline of deals to continue investing this year.