Tosca Debt Capital raises £238m

The Manchester-based firm's second fund will continue to target British SMEs.

Tosca Debt Capital (TDC), the private credit arm of Toscafund Asset Management, held a final close of its second credit vehicle at £237.6 million.

Tosca Debt Capital Fund II will continue the firm’s strategy of targeting UK-based SMEs in multiple sectors. The fund’s limited partners include the Strathclyde Pension Fund and British Business Investments.

According to the Manchester-based firm’s press release, TDC has raised about £330 million across its two vehicles, of which it has invested £160 million in 14 companies.

TDC previously raised £110m for its debut vehicle in 2016.