Vicenda looks for up to CHF 200m for debt in German-speaking countries

Vicenda Asset Management has launched a private debt fund as part of a joint venture.

The Switzerland-based asset manager, which has previously focused on making individual private debt transactions on behalf of investors launched the Daneo Private Debt Fund late last year in partnership with Independent Financial Services (IFS) and Silverhorn Investment Advisors.

Daneo marks the first time Vicenda has raised a dedicated fund for private debt.

The fund has already raised CHF 70 million ($72.88 million; €59.38 million) from existing Vicenda clients and will now begin marketing to increase its size to between CHF 150 million to CHF 200 million, which it hopes to reach in the third quarter of 2018. It will seek out new investor relationships for the second phase of its fundraising. Of the CHF 70 million raised so far, CHF 50 million has been invested.

The fund is primarily focused on packaging smaller transactions into portfolios and making select individual investments in companies in Switzerland, Germany and Austria.

The fund has targeted returns of between 5.5 percent and 6 percent. It is a closed ended vehicle with a seven-year lifespan and a two-year investment phase.

Vicenda said it is responding to a need among pension fund and insurance company clients to access attractive risk/return profile opportunities in a persistent low interest rate environment.