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Credit Funds Tracker: 26 October 2020

Institutional investors have allocated just over $4 billion to 27 credit managers in October board meetings.

The European Investment Fund is among these, having pledged undisclosed commitments to four European private debt funds including two new strategies, recent board documentation reveals. 

All Seas Capital Partners, the direct lending firm co-founded by former KKR duo Marc Ciancimino and Cristobal Cuart last year, won support for its debut offering: All Sea Capital I. The hybrid debt-equity vehicle invests in France, Germany, Benelux, Spain and the UK and, to a lesser extent, the nordics, Austria and Switzerland. Tikehau’s inaugural French impact lending fund, which the firm revealed it would launch later this year (alongside a private debt secondaries fund), also received the backing of the EIF.

Spain-focused Resilience Partners received a commitment for its Alternative Direct Leasing Fund, while Idinvest won a commitment for Idinvest SME Industrial Assets Fund II. These last two commitments were funded from the EIF's EFSI-SMEW [European Fund for Strategic Investments small and mid-sized enterprise window) private credit SME programme. The debt funds will provide senior financing. Resilience will focus on companies in Spain (and to a lesser extent Portugal), while Idinvest will invest predominantly in France (and to a lesser extent Benelux, Germany and Spain). 

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