Park Sq. Capital has raised €3.4bn (£2.9bn) for the ultimate shut of its newest European direct lending fund, a 50 per cent enhance from the earlier classic.
The European Mortgage Companions II programme focuses on offering direct, senior secured and unitranche loans to European mid-market companies.
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The technique attracted commitments from a broad vary of recent and present buyers together with sovereign wealth funds, pension funds, insurers and personal wealth buyers throughout Europe, the US and Asia.
The cornerstone of the European Mortgage Companions II programme is a three way partnership between the choice asset supervisor and Sumitomo Mitsui Banking Company (SMBC), which closed at €2.8bn, a 40 per cent enhance over its predecessor fund.
The three way partnership between Park Sq. and SMBC had made greater than 50 offers because the first fund launched in 2017.
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“We wish to thank our buyers for his or her robust assist and confidence,” stated Robin Doumar, managing companion at Park Sq..
“There continues to be a major pipeline of mid-market alternatives within the direct lending area in Europe, and we’re primed to capitalise on our monitor report of supporting corporations throughout market cycles and delivering engaging returns to buyers.”
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Dan Matthews, head of EMEA leveraged finance at SMBC, added: “We’re delighted to announce this new programme which furthers our profitable partnership with Park Sq.. The 2 establishments have a well-established monitor report of working collectively to ship a variety of direct lending options for European mid-market corporations.”