Muzinich & Co, a specialist bond manager that has more recently branched out into private debt, has first-closed its pan-European private debt fund at €210 million. 

The strategy aims to provide growth capital to lower middle-market companies to fund acquisitions, expansions and transitions in family and founder-owned businesses.

First close of the Muzinich Pan-European II Private Debt Fund follows on from the €706.5 million closing of the firm’s first European private debt fund in 2018.

In an interview with Funds Europe earlier this year, the firm’s co-head of European private debt, Kirsten Bode, said that the direct lending market in Europe has in recent years been catching up with the more developed market in the US.

Muzinich has been active in European private debt since 2014 when local regional teams started investing in country-specific funds. 

© 2020 funds europe