Kartesia Credit Opportunity III (KCO III) reaches €507 million for its final closing
Kartesia Advisor is pleased to announce that the final closing of its European credit opportunity fund KCO III took place on March 24th at €507 million, above its hard cap. This represents a significant oversubscription compared to its original target of €400 million.
It took less than 15 months for Kartesia to collect €507 million, thanks to the support of its anchor investor Sienna Capital and of Altercap* investors – 75% of whom invested in KCO III -, as well as to the strong demand from European institutional investors.
About 50% of commitments to KCO III come from prior investors, and 50% from new leading institutional investors from across Europe.
Commenting on KCO III final closing, Kartesia Managing Partner Laurent Bouvier said: “We are delighted to see both the support from prior investors and very much welcome new leading institutional investors from across Europe”.
“Given that we are a long term, relationship driven management company, the growing support and trust of the European investor community is a major milestone in our efforts to build a leading European credit platform”.
“The strong demand from European institutional investors and assets managers show that they believe in the structural disintermediation of the banks that is taking place in Europe, which is the founding principle behind Kartesia”.
As you may be aware, KCO III has already invested in 13 deals across 8 industries and 6 countries. The pipeline of investment opportunities remains rich at the moment in Europe despite the current climate and Kartesia is confident that it will continue to deliver stable and superior risk-adjusted returns by building a diversified portfolio with solid downside protection.
* Altercap debt funds are co-managed by Kartesia and LBO France.