Kartesia, a European specialist provider of capital solutions for small and mid-sized companies, says 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 was said to have 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 financing solutions across the capital structure.”
The KCO strategy continues to demonstrate 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 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 company states that it remains focused on developing new strategies “in adjacent areas that provide further valuable solutions for clients.”