Kartesia raises €1.3 billion for latest Credit Opportunities fund

Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce that it has held the final closing for its sixth-generation credit opportunities strategy, Kartesia Credit Opportunities (KCO) VI, at €1.3 billion.

The fundraising of KCO VI received strong interest from a global base of Limited Partners (LPs) with notable support from a diverse mix of leading US, European, Middle Eastern and Asian investors. There were more than 25 new institutional investors to the strategy representing nearly 50% of the capital, evidencing continued growth in interest from investors looking to gain exposure to opportunistic European private credit via highly experienced managers like Kartesia. KCO VI also saw significant growth in commitments from private wealth investors, growing to over 20% of total capital compared to less than 10% for the prior vintage.

50% has already been deployed across a number of high-quality investments, demonstrating robust borrower demand and the team’s execution capacity in the current environment.

Kartesia’s Credit Opportunities strategy has been at the forefront of the European lower mid-market since 2013 and allows for flexible dual-track, primary or secondary origination in predominantly sponsorless deals, providing bespoke financing solutions across the capital structure. The KCO strategy continues to demonstrate leading performance, with past vintages having returned over €2.3bn to investors at IRRs exceeding 14%, positioning it among top-tier managers in the space. Responsible investing is at the core of Kartesia’s values, and the Credit Opportunities strategy actively aligns with the SFDR Article 8 standards.

In combination with its other strategies offered across senior credit opportunities, asset-based finance, impact and the recently launched ELTIF in partnership with Candriam, another New York Life Investment Management affiliate, Kartesia provides a truly multi-strategy offering for an increasingly diverse set of clients and their needs. The Group remains focused on developing new strategies in adjacent areas that provide further valuable solutions for clients.

Laurent Bouvier, Managing Partner at Kartesia, commented: “We are pleased to announce the successful closing of KCO VI given challenging macro-economic conditions which have caused significant liquidity issues for LPs across the board. The KCO strategy continues to return capital to investors at an attractive rate of return, with borrower demand also staying high, we remain confident in the ability of our deal teams to source exciting investment opportunities. We’d like to thank all existing and new investors for their continued support in this fundraising round, which will allow us to continue to finance a vibrant European lower mid-market.”