Harbert Management Corporation, a Birmingham, Alabama-based investment management firm focusing on alternative assets, held the final close of its first European private debt fund, at €122m.
Harbert European Growth Capital Fund I received support from existing investors and new commitments from other institutional investors including European government development agencies, private pensions, family offices and funds-of-funds.
Led by David Bateman and Johan Kampe, Senior Managing Directors and co-heads of the fund, HEGCF focuses on high-growth SMEs located in and around the major tech clusters throughout Northern and Western Europe. Its primary strategy is to invest €5‐25m in European small‐to medium‐size enterprises seeking funding for organic growth.
At its final close, the fund has already committed approximately €86m in 23 loan facilities.