Carlyle AlpInvest and Investec’s alternatives arm have partnered to launch a European private credit fund with roughly €400m (£351m) in committed capital.
The Investec Senior Debt Fund I (SDF I) has been created through a credit secondary transaction led by Carlyle AlpInvest, the $102bn private equity investor.
Both firms stated that the deal involved the secondary purchase of a portfolio of high-quality performing loans from Investec’s balance sheet. Carlyle has also committed capital to invest in direct lending opportunities.
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The fund, launched by Investec Alternative Investment Management (IAIM), will provide senior secured loans to European private-equity and corporate-backed businesses generating between €3m and €50m EBITDA. It will focus on the UK, Ireland, the Benelux and DACH regions.
“Our involvement in establishing SDF I underscores our commitment to building differentiated partnerships with high-quality credit managers,” said Mike Hacker, partner and global head of portfolio finance at Carlyle AlpInvest. “We’re excited to support Investec as it expands its senior lending platform and to further strengthen AlpInvest’s position as a partner of choice for private credit managers.”
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The fund will target lower mid-market companies and will be managed by Investec’s direct lending team.
“The launch of this senior loan fund marks an important milestone for our alternatives platform, and we are delighted to have partnered with Carlyle AlpInvest,” said Callum Bell, Investec’s head of direct lending and IAIM.
The launch follows the recent launch of Investec’s €250m Private Debt Fund I, which has a €500m target and is expected to hold a final close in January 2026.
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