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

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

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30 OCT, 2023

By Pictet Asset Management


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.

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