London and Paris-based European Capital Fund Management Limited closed its European mid-market direct lending fund, at €473.5m (approx. $540m).
The investor group is comprised of 17 institutional investors, including insurance companies, pension funds, asset managers and family offices, from the UK, U.S., France, Switzerland, Germany, Belgium and the Middle East.
European Capital Private Debt, LP, focuses on providing financing in the form of unirate, mezzanine and senior financing for sponsor-led acquisitions of mid-market European companies.
It has already invested €320m across 14 portfolio companies based in France, United Kingdom, Spain and Germany.
European Capital Fund Management Limited, which manages €600m in two funds, is an English limited company regulated by the Financial Conduct Authority, and is an indirect, wholly owned affiliate of American Capital, Ltd (Nasdaq: ACAS).