2023-10-27 16:16:57
Pictet Asset Management (Pictet AM) has announced a first closing of its European direct lending fund Pictet European Direct Lending I, after reaching its target of 200 million euros.
It is a Luxembourg Reserved Alternative Investment Fund (RAIF), classified under Article 8, whose purpose is to offer debt financing to medium-sized unlisted European companies. It invests in mature companies, which have reached a crucial phase of their evolution, providing them with capital as they allow them to grow and undertake the next stage of their life cycle.
It has specialized expert managers and a local presence to make available to qualified investors an asset class “capable of providing stable and solid returns in a macroeconomic environment of uncertainty,” the manager details in its note. “The investor, despite a complicated environment for raising funds, increasingly values having exposure to niche strategies, such as diversifying exposure in corporate debt to receive premium returns,” said Andreas Klein, director of private debt in Pictet AM.
Pictet European Direct Lending I has already completed two operations. In September it provided debt financing to French company Enersweet to support its acquisition of Liciel Environnement, a French software company, and earlier last August it provided growth financing to German manufacturer MLase AG.
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