3i holds €250m first close of a European Middle Market Loan Fund
3i Group plc (“3i” or “3i Group”), an international investment manager, today confirms the first closing of a European Middle Market Loan Fund at approximately €250 million.
The fund will predominantly invest in senior secured, floating-rate loans to European middle market companies. The fund will target returns of Euribor +5-7% and will have a three year investment period.
Jeremy Ghose, Managing Partner and 3i Debt Management CEO, commented: “We are delighted to announce the first close of our European Middle Market Fund. We have already raised close to US$3bn this year through 5 CLOs and today’s news demonstrates progress towards achieving our aim to diversify into additional products which meet investors’ needs.”
3i Debt Management (“3iDM”) has raised 2 US CLOs (COA Summit and Jamestown IV) and 3 European CLOs (Harvest VIII, Harvest IX and Harvest X) to date in 2014, totalling US$2.8bn.
At 31 March 2014, 3iDM managed 28 funds and had total assets under management of approx. $11 billion, on a pro forma basis.
For further information, contact:
Kathryn van der Kroft
Tel: +44 20 7975 3021
Notes to editors:
About 3i Group
3i is an international investment manager focused on mid-market Private Equity, Infrastructure and Debt Management across Europe, North America and Asia. For further information, please visit: www.3i.com
About 3i Debt Management
3i Debt Management, which was founded through the acquisition of Mizuho Investment Management in February 2011, specialises in the management of third-party funds investing in corporate debt issued by medium and large European and US companies.