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Laxman Pai, Opalesque Asia: CVC Credit, the global credit management business of CVC Capital Partners, has closed its third European direct lending fund, EUDL III, at €6.3 billion ($6.5 billion).
The Luxembourg-based French private equity and investment advisory firm said in a press release, CVC Credit raised the funds, "a significant increase" over a previous European direct lending fund.
Andrew Davies, Partner and Co-Head of Private Credit, said: "The European private credit market is undergoing profound secular growth and with the support of the CVC Network, we are ideally placed to capitalize on that opportunity."
CVC Credit invests in companies across the sub-investment grade corporate credit markets in Europe and North America.
John Empson, Partner, and Co-Head of Private Credit added: "CVC Credit is incredibly focussed on delivering attractive financing solutions for European financial sponsors, many of whom have been impacted by the pullback in bank lending. The strength and depth of the CVC platform enable us to act as a reliable long-term partner and we are excited by the opportunity."
Chloe Sanders, Head of ESG at CVC said: "EUDL III is at the center of CVC's belief that embedding environmental and social responsibility, creates stronger and more resilient businesses. Andrew and John understand this, which is why they are providing loans with lower financing costs if borrowers deliver sustainable value. We believe this is a great way of ...................... To view our full article Click here
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