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09 Dec 2024

IAIM announces first close of new Private Debt Fund with commitments of €200m

Following on from the success of its inaugural €250m private debt fund, Investec Alternative Investment Management (IAIM), a subsidiary of Investec Bank plc (Investec), is pleased to announce that it has successfully reached its first close target for its second Private Debt Fund (PDF II), achieving a milestone of 40% of its target subscription level of €500 million. Investors benefit from a significant seed portfolio of investments that capitalises on Investec’s deep sourcing capabilities across the European private debt market.



PDF II is a closed-ended, Luxembourg-based special limited partnership fund, focused on providing senior secured debt (including unitranche) and subordinated debt for private equity and corporate-backed businesses with EBITDA between €3 million and €50 million, primarily located in the UK, Ireland, Benelux, and DACH regions.

The fund primarily targets growth-oriented businesses underpinned by defensive business models which is a segment underserved by banks and fund providers. The fund is managed by Investec’s Direct Lending team, comprising over 50 investment professionals, with extensive experience in UK and European lending to small and mid-sized corporates. PDF II can invest in all eligible investments originated by the Direct Lending team, leveraging the full breadth of the Investec platform.

Over the last 14 years, the Direct Lending team has sourced over €9.5 billion in loans across more than 330 transactions; benefiting from a flexible lending mandate and a proven investment team. With a core focus on capital preservation, investors can access a scalable source of proprietary investment opportunities.

Callum Bell, Director at IAIM and Head of Direct Lending, said: “We are pleased to announce the successful first close of our second private debt fund, PDF II with both new and existing investors joining our fast-growing platform. We are delighted to reach this milestone and it reflects the latent demand from investors to access differentiated and underserved segments of the wider direct lending landscape working with established and proven managers like Investec”.

 

  • Notes to Editors

    This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

For further information, please contact:

Charles Clarke

Charles Clarke

Head of Business PR
About Investec

Investec Bank plc (‘IBP’) is the banking subsidiary of Investec plc. Investec plc is a FTSE-250 listed company which holds the majority of Investec Group’s non-Southern African businesses under a dual listed company structure. IBP partners with private, institutional and corporate clients, offering banking and investment services in the UK, Europe and US, Continental Europe, Channel Island, India, Switzerland and Ireland.

IBP also offers wealth management services through its strategic partnership with Rathbones Group, the UK’s largest discretionary wealth manager. IBP has operated in the UK since 1992.

As part of the Investec Group, IBP is a purpose-driven organisation, dedicated to its core purpose of creating enduring worth. This means we will always strive to create long-term value for all stakeholders and contribute meaningfully to people, communities and the planet.

Further information can be found at www.investec.com.