Pictet AM initially closes its European direct lending fund at 200 million

Pictet Asset Management has announced the first closing of its European direct lending fund, Pictet European Direct Lending I, with a target of 200 million euros.

It is a Luxembourg-based Reserved Alternative Investment Fund (RAIF), classified under Article 8 of the EU Regulation on sustainability information transparency. This recently launched fund's purpose is to provide debt financing to medium-sized, non-public European companies. It invests in mature companies that have reached a critical phase in their development, providing them with capital to support growth and the next stage of their life cycle.

The fund is managed by specialized experts and has a local presence to offer qualified investors an asset class capable of delivering stable and robust returns in a macroeconomic environment of uncertainty. Andreas Klein, Head of Private Debt at Pictet Asset Management, commented, 'Despite a challenging fundraising environment, investors increasingly value exposure to niche strategies, such as diversifying exposure to corporate debt to achieve premium returns.'

Pictet European Direct Lending I has already closed two transactions. In September, it provided debt financing to the French company Enersweet to support the acquisition of Liciel Environnement, a French software company. In the previous August, it provided growth financing to the German manufacturer MLase AG.