Park Square Capital has raised over €2.4bn (£2.1bn) at the final close of its latest junior capital fund, marking a record raise for the strategy and beating its €1.75bn target.
Park Square Capital Partners V’s total investable capital is around €4bn, substantially larger than its previous vintage, which closed at €2.2bn in May 2021 and included €1.5bn of LP commitments.
The alternative asset manager said that the fund attracted commitments from pension funds, insurance companies and sovereign wealth funds across Europe, North America and Asia, including several new institutional investors.
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The fund targets both primary capital solutions and dislocated debt, focused on businesses across Europe and North America that are typically sponsor-backed.
It expects to make 30 to 40 total investments across business services, software, healthcare, and high-margin industrial companies, and has made 20 investments to date.
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“We are delighted by the success of the fund raise and we thank our investors for their support,” said Robin Doumar, managing partner at Park Square.
“It’s great to see so many leading institutional investors recognising the strength of our track record, our leadership position in Europe and our growing presence in North America. With the scale of this fund, we are well positioned to support private equity sponsors and companies with tailored financing solutions throughout the credit cycle – a key strength that continues to underpin the global expansion of our offering.”
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