Beechbrook Capital has raised £151m for the primary shut of its fourth UK SME credit score fund, together with a £40m dedication from British Enterprise Investments.
UK SME Credit score IV is concentrating on a fund dimension of £250m and focuses on non-sponsored, senior secured loans to companies with EBIDTA of as much as £15m.
The non-public debt fund supervisor additionally introduced that it has accomplished the ultimate two investments in its predecessor fund, UK SME Credit score III, which raised £185m in complete.
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The primary was a spectroscopy producer and the second was model company Strata Artistic Communications, marking Beechbrook’s seventy fifth funding within the UK since inception in 2008.
“We’re excited to announce the primary shut of our fourth UK SME Credit score Fund and the completion of two new investments,” stated Paul Shea, managing associate at Beechbrook Capital.
“We’re grateful for the continued help from our traders, which demonstrates the numerous worth in investing within the decrease mid-market, each from a industrial perspective but additionally supporting development, innovation and job creation all through the UK.”
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Adam Kelly, managing director at British Enterprise Investments, the industrial arm of the British Enterprise Financial institution, stated: “We’re happy to proceed help for Beechbrook with a brand new dedication to its fourth SME Credit score Fund as they work to extend accessible capital for smaller companies and help development throughout the UK.
“British Enterprise Investments has beforehand backed Beechbrook’s earlier SME Credit score funds with commitments in 2017, 2019 and 2021, and we introduced a £20m individually managed account with Beechbrook earlier this 12 months. By backing unbiased finance suppliers like Beechbrook we assist diversify the UK’s smaller enterprise finance market, offering extra selection for companies.”