About Muzinich & Co.

We are a global credit specialist across public and private markets.

Our advantage is based on our private ownership and sole focus on credit.

Our private ownership allows us to take a long-term partnership approach with our investors, unconstrained by the short-term thinking that so often dominates finance.

Our focus on credit means our interests are aligned with our investors; our mutual success relies on the quality of our credit analysis and selection.

Public Markets

US$36.0bn

AUM

Private Markets

US$7.3bn

AUM

Our Story

Introducing

Muzinich European Evergreen Credit Fund (MLoan)

Challenge Investors seeking income from private credit must balance return potential with downside protection, liquidity needs and disciplined underwriting standards, particularly as markets become more selective.
Solution MLoan is an evergreen, semi-liquid strategy focused on European parallel lending, investing alongside banks in senior secured loans to upper middle-market companies. The strategy combines private credit illiquidity premia with public credit tools within a single portfolio framework.

Key Characteristics

Primarily invests in senior secured parallel lending transactions alongside regulated banking partners.

Targets middle-market European companies with established cash flows.

Integrates liquid syndicated loans with illiquid parallel lending and direct lending within one portfolio.

Evergreen structure with ongoing subscriptions and defined liquidity windows.

Designed to deliver stable income and minimise NAV volatility through conservative credit selection.

Supported by Muzinich’s established European private debt platform and extensive bank network.

Why MLoan?

Access to proprietary, bank-originated deal flow across Europe, aligned with regulated lending standards and senior secured positioning.
Combines private credit illiquidity premia with structured liquidity features, supported by an established European private debt platform.

Why Now?

European banks continue to seek capital-efficient risk-sharing solutions, creating opportunities for parallel lending strategies to participate alongside them. At the same time, investors are prioritising stable income, diversification and resilient credit exposure within private markets.

An Experienced Team

Photo of Gianluca Orrichio Gianluca Orrichio Co-Head Parallel Lending
Photo of Gianpaolo Pellegrini Gianpaolo Pellegrini Co-Head Parallel Lending

Opinions

Podcast | February 24, 2026

Parallel Lending Explained: Accessing European Private Credit Alongside Banks

Private credit continues to evolve, with banks and asset managers increasingly working together to finance the European middle market. In the latest episode of the Muzinich Podcast, we discuss how investing alongside banks can provide differentiated access to senior secured lending opportunities.

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Opinions

Insight | November 25, 2025

Parallel lending: A disciplined path to resilient credit

By aligning with regulated bank standards, we believe parallel lending offers a transparent and resilient alternative within a market under increasing scrutiny, argues Gianluca Oricchio.

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Opinions

Insight | April 25, 2025

Parallel lending: Built to withstand market storms

In a world where financial volatility is inevitable, evergreen parallel lending strategies could offer a compelling model for resilience. Gianluca Oricchio and Gianpaolo Pellegrini explain why their approach is positioned for whatever the market throws next.

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Opinions

Insight | December 4, 2024

Parallel lending: The next frontier for private credit

Lending partnerships between asset managers and European banks may lead to low-risk, highly diversified private debt portfolios and potentially attractive returns for investors, argue Gianluca Oricchio and Gianpaolo Pellegrini.

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Enhance Your Perspectives on Credit Markets

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Contact Us

For more information about this strategy.

Photo of Hugo Wheeler Hugo Wheeler Country Manager, UK & Ireland hwheeler@muzinich.com
Photo of Andrew Douglas Andrew Douglas Head of Institutional Sales, UK & Ireland adouglas@muzinich.com

Muzinich European Evergreen Credit Fund (MLoan) - Important Information

Important Information

FOR PROFESSIONAL CLIENT AND QUALIFIED/ACCREDITED INVESTOR USE ONLY.

This is a marketing communication

AUM Data as of January 31, 2026.

Risk warnings: Alternative investments can be speculative and are not suitable for all investors. Investing in alternative investments is only intended for experienced and sophisticated investors who are willing and able to bear the high economic risks associated with such an investment. Investors should carefully review and consider potential risks before investing. Certain of these risks include: (a) Loss of all or a substantial portion of the investment;(b) Lack of liquidity in that there may be no secondary market for interests in the Fund; (c) Volatility of returns; (d) Restrictions on transferring interests; and (e) Potential lack of diversification and resulting higher risk due to concentration within one of more sectors, industries, countries or regions.

Muzinich & Co.", “Muzinich” and/or the "Firm" referenced herein is defined as Muzinich & Co. Inc. and its affiliates. This webinar will be produced for information purposes only and as such the views contained within the webinar are not to be taken as investment advice. Opinions are as of date of publication and are subject to change without reference or notification to you. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. The value of investments and the income from them may fall as well as rise and is not guaranteed and investors may not get back the full amount invested. Rates of exchange may cause the value of investments to rise or fall. Emerging Markets may be more risky than more developed markets for a variety of reasons, including but not limited to, increased political, social and economic instability; heightened pricing volatility and reduced market liquidity.

Any research in the upcoming webinar has been obtained and may have been acted on by Muzinich for its own purpose. The results of such research are being made available for information purposes and no assurances are made as to their accuracy. Opinions and statements of financial market trends that are based on market conditions constitute our judgment and this judgment may prove to be wrong. The views and opinions expressed should not be construed as an offer to buy or sell or invitation to engage in any investment activity, they are for information purposes only.

Before making a decision to invest, a prospective investor should carefully review information respecting Muzinich and such investment and consult with its own legal, accounting, tax and other advisors in order to independently assess the merits of such an investment as nothing in these materials should be construed as a product recommendation or as investment, legal, or tax advice. No legally binding terms shall be created until definitive documentation is executed and delivered. This webinar is being provided solely for informational purposes. By attending this webinar, the recipient (i) acknowledges that the information contained herein is confidential and intended solely for the intended recipients and their authorized agents and may not be disclosed or distributed to any other person in any fashion without the prior written consent of Muzinich, (ii) agrees not to use the information contained herein for any purpose other than to evaluate a potential investment in any product described herein, and (iii) shall be deemed to have agreed to the following: The material in the upcmoing webinar is directed only at entities or persons in jurisdictions or countries where access to and use of this information is not contrary to local laws or regulations. Any products or service may not be licensed in all jurisdictions and these materials do not constitute an offer or solicitation to sell or a solicitation of an offer to buy any product or service (nor shall any product or service be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. No regulator or government authority has reviewed this webinar, or the merits of the products and services referenced herein. All of the information contained within the upcoming webinar is believed to be accurate as of the date(s) indicated, is not complete, and is subject to change at any time. Certain information contained within the webinar may be based on data obtained from third parties and, although believed to be reliable, has not been independently verified by anyone at or affiliated with Muzinich & Co.; its accuracy or completeness cannot be guaranteed.

This webinar may contain forward-looking statements, which give current expectations of future activities and future performance. Any or all forward-looking statements in the webinar may turn out to be incorrect. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Although the assumptions underlying the forward-looking statements contained herein are believed to be reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurances that the forward-looking statements included in this discussion will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation that the objectives and plans discussed herein will be achieved. Further, no person undertakes any obligation to revise such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Notice for persons in the European Economic Area: In relation to each member state of the EEA (each a “Member State”) which has implemented Alternative Investment Fund Managers Directive (Directive (2011/61/EU)) (the “AIFMD”), this webinar may only be distributed to the extent that: (1) Muzinich is or its affiliates are permitted to do so in accordance with AIFMD (as implemented into the local law/regulation of the relevant Member State); or (2) this webinar may otherwise be lawfully distributed in that Member State (including at the initiative of the investor).

In Korea: Neither the Muzinich Enterprises Credit II, SCSp Fund nor Muzinich & Co. is making any representation with respect to the eligibility of any recipients of this webinar to acquire the units therein under the laws of Korea, including but without limitation the Foreign Exchange Transaction Act and Regulations thereunder. The units may only be offered to Qualified Professional Investors, as such term is defined under the Financial Investment Services and Capital Markets Act, and none of the units may be offered, sold or delivered, or offered or sold to any person for re-offering or resale, directly or indirectly, in Korea or to any resident of Korea except pursuant to applicable laws and regulations of Korea.

In Singapore: The fund is a restricted scheme under the Sixth Schedule to the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations of Singapore. No offer of the units in the fund for subscription or purchase (or invitation to subscribe for or purchase the units) may be made, and no document or other material relating to the offer of units may be circulated or distributed, whether directly or indirectly, to any person in Singapore other than to: (i) "institutional investors" pursuant to Section 304 of the Securities and Futures Act of Singapore (the “Act”), (ii) "relevant persons" pursuant to section 305(1) of the Act, (iii) persons who meet the requirements of an offer made pursuant to Section 305(2) of the Act, or (iv) pursuant to, and in accordance with the conditions of, other applicable provisions of the Act. The offer, holding and subsequent transfer of units are subject to restrictions and conditions under the Act.

Notice for persons in the United Kingdom: This webinar may be issued in the United Kingdom by Muzinich to, and/or is directed at, only persons to or at whom it may lawfully be issued or directed under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 including persons who are authorized under the Financial Services and Markets Act 2000 (“FSMA”), certain persons having professional experience in matters relating to investments, high net worth companies, high net worth unincorporated associations or partnerships, or trustees of high value trusts or persons who qualify as certified sophisticated investors. This weinar may be distributed only to such persons in the United Kingdom and must not be relied or acted upon by any other persons in the United Kingdom. In order to qualify as a certified sophisticated investor a person must: (a) have a certificate in writing or other legible form signed by an authorized person to the effect that he is sufficiently knowledgeable to understand the risks associated with a particular type of investment; and (b) have signed, within the last 12 months, a statement in a prescribed form declaring, amongst other things, that he qualifies as a sophisticated investor in relation to such investments. This webinar is exempt from the general restriction in Section 21 of FSMA on the communication of invitations or inducements to engage in investment activity on the grounds that it is being issued to and/or directed at only the types of person referred to above.

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Issued in the European Union by Muzinich & Co. (Ireland) Limited, which is authorized and regulated by the Central Bank of Ireland. Registered in Ireland, Company Registration No. 307511. Registered address: 32 Molesworth Street, Dublin 2, D02 Y512, Ireland. Issued in Switzerland by Muzinich & Co. (Switzerland) AG. Registered in Switzerland No. CHE-389.422.108. Registered address: Tödistrasse 5, 8002 Zurich, Switzerland. Issued in Singapore and Hong Kong by Muzinich & Co. (Singapore) Pte. Limited, which is licensed and regulated by the Monetary Authority of Singapore. Registered in Singapore No. 201624477K. Registered address: 6 Battery Road, #26-05, Singapore, 049909. Issued in all other jurisdictions (excluding the U.S.) by Muzinich & Co. Limited. which is authorized and regulated by the Financial Conduct Authority. Registered in England and Wales No. 3852444. Registered address: 8 Hanover Street, London W1S 1YQ, United Kingdom.

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