Park Square Capital has launched fundraising for its latest fund, according to Bloomberg. The fund has a €1 billion target. A spokesperson for the firm could not be reached by press time.
Park Square Capital Partners III will follow a similar mandate to its predecessors in the PSCP series, investing in the subordinated debt of large and mid-cap companies in Europe. It will also have the flexibility to acquire both performing and distressed debt on the secondary market.
UBS' placement team is working on the fundraising.
Park Square last year launched Park Square Capital Credit Opportunities II, a €420 million senior debt-focused vehicle which is still garnering commitments. That fund has a €500 million target.
The predecessor vehicle to the new fund, PSCP II, raised €850 million in 2011. The firm's debut fund raised €1.05 billion in 2005.
For an in-depth interview PDI conducted with Doumar last year, click HERE.