Eurazeo has raised €480m (£414.2m) for a private debt continuation vehicle backed by Pantheon at close.
The Paris-based investment firm said the continuation fund vehicle will hold existing loans from Eurazeo’s legacy private debt platforms, with investor Pantheon providing additional capital. This will give Eurazeo fresh lending capacity to support European middle-market companies.
Read more: Eurazeo AUM rises 4pc to €36.8bn
“We are pleased to deliver a tailored and highly-attractive solution for our limited partners (LPs) while partnering for the long term with Pantheon, a leading global player in credit secondaries,” said Nicolas Nedelec, partner in Eurazeo’s private debt team. “This transaction demonstrates the depth of our private debt platform and our commitment to proactively managing the lifecycle of our funds in the best interests of our investors.”
According to Eurazeo, the continuation fund will provide liquidity to LPs while maintaining stability for the underlying assets.
Read more: Eurazeo saw 86pc rise in private debt fundraising last year
“We are delighted to continue expanding our existing relationship with Eurazeo by supporting this continuation fund. Eurazeo’s proven expertise in managing these assets and originating high-quality transactions was a key driver of our conviction,” said Toni Vainio, partner and head of European private credit at Pantheon. “The transaction illustrates our ability to design scalable and bespoke secondary solutions in private credit, benefiting both new and existing investors.”
