Private Debt

Global Presence, Local Approach

We take a regional approach with dedicated local offices, recognizing the importance of local staff investing in regions they know best. This enables us to develop close working relationships with family and founder owned business where we seek to create long-time partnerships and share a common ethos.

Provider of Growth Capital

Our goal is to work with SMEs by providing them with flexible capital solutions to further incentivize growth in a framework of responsible governance. We invest prudently, always conscious of the need to protect capital. We believe in the importance of meticulous due diligence to help us fully understand a company’s strengths and weaknesses.

Lower Middle Market Focus

We are focused on lending to companies in the lower middle market. It is by working with small and medium-sized enterprises (SMEs), with EBITDA of between €5-25mn, where we see the greatest risk/reward opportunities as a lender; we strongly believe in the positive societal values of providing growth capital to lower-middle market companies. These are companies that have reached a certain level of profitable maturity but, in our view, have the potential to grow.

Platform Inception

2014

Market Segment Focus

Lower Middle Market

Target Deal Size

$US10 - 50m+

Geography

Europe, US & Asia Pacific

Portfolio Manager Locations

London, New York, Dublin, Frankfurt, Hong Kong, Madrid, Manchester, Milan, Paris, Singapore, Sydney

Investment Types

Senior, Unitranche, Second Lien, Mezzanine, Minor Equity

Our Advantage

  • Operate in the lower middle-market – an underserved segment that can provide an abundance of opportunities
  • Global team of local experts - to uncover potential opportunities with a differentiated deal sourcing approach
  • Intelligently crafted solutions - with a focus on founder and private equity owned businesses

 

Capital at risk. The value of investments and the income from them may fall as well as rise and is not guaranteed. Investors may not get back the full amount invested.

Illiquidity Risk:  Illiquidity occurs when a security or other asset that cannot easily and/or quickly sold or exchanged for cash without a substantial loss in value. As a result, investments may be illiquid and there can be no assurance that investments can be bought or sold.

Small and Medium Sized Enterprise (SME) Risk: Investments in small and medium sized unquoted companies are intrinsically riskier than in quoted companies as the unquoted companies may be smaller, more vulnerable to changes in markets and technology and dependent on the skills and commitment of the management team. There is a risk that an underlying borrower will be unable to pay principal and interest when due.

“We believe the private debt industry is likely to continue to grow as investors seek diversification and the potential for higher yields than what is available in traditional fixed income. However, we believe it is important to partner with a private debt manager who takes a prudent approach to lending, with a diversified portfolio of creditworthy businesses”

Kirsten Bode – Co-head of European Private Debt, Pan Europe

Photo of Kirsten Bode – Co-head of European Private Debt, Pan Europe

Private Debt Team Locations

Investment Team

John Clifford

Grant Davidson

Johan Wu

Mark S. O'Keeffe

Howard Mahon

Sebastian Venc

Matthias Munnich

Rafael Torres

Luis Vitores

Santiago Martin De La Torre

Miguel Garcia Prieto

James Adams

Rob Judson

Gianluca Oricchio

Gianpaolo Pellegrini

Carlo Bosco

Marcello Villa

Riccardo Mangiarotti

Attilio Guida

Michele Lopizzo

Tommaso Baccini

Ricardo Balsamo

Eleonora Benvenuto

Sonia Galeotti

Alexandre Millarini

Salim Hasnat

Evgenia Lepetova

Philippine De Termont

Alexandre Catimel

Kirsten Bode

Jeff Youle

Michael Smith

Ji He

Christian Giordano

Ludivico Catella

Ben Zhu

Yuki Lu Zheng Rong

Andrew Tan

Jieying Huang

Stuti Bansal

Denis Rayel

Aaron Muller

Insights

compass.2.jpg

Jan 17, 2023

A New Reality

In our somber-minded daily world of earning a living we occasionally wander into a dreamworld of a living earned for us.

Landscape.jpg

Jan 04, 2023

Muzinich & Co. 2023 Private Debt Outlook – New Landscape, New Opportunities

Despite the changing macroeconomic backdrop we believe new opportunities are emerging for private lenders globally.

stars.2.jpg

Jan 25, 2022

European Private Debt – A Bright Outlook

Does a strong recovery in deal flow and the prospect of protection from rising interest rates reinforce the investment case for private debt?

Read More Insights