Idinvest Partners, a Paris, France-based investor in SMEs across Europe, closed its fourth direct lending fund, at €715m.
Idinvest Private Debt IV surpassed its initial target of €600m with more than 60% of the investors coming from outside France.
Launched in 2016, the Idinvest Private Debt IV fund has invested 60% of its total commitments across 17 companies, of which more than 40% based outside France. Focusing on the European lower mid-market segment (enterprise value of between €35m and €250m), the firm’s Private Debt team arranges primarily unitranche financings for tickets ranging from €10m to €75m.
In Q1 2018, over €120m were invested across 7 companies such as Technicis, Zodiac Milpro and Gravotech in France or Halex Group and GS Star in Germany.
Led by François Lacoste and Eric Gallerne, Idinvest’s multi-national private debt team consists of 16 investment professionals with offices in Paris, Frankfurt and Madrid.
Idinvest Private Debt manages more than €3bn, around a third of Idinvest’s total assets under management.