Beechbrook Capital is launching fundraising for its third Private Debt fund and makes its eighth full exit
07 March 2016
7th March 2016 – Beechbrook is launching fundraising for its third private debt fund, Private Debt III. Fund III will follow the same successful strategy as its predecessor funds. Having reached its hard cap of €150m in May 2014, Fund II is now over 80% invested and is on track to be fully invested by the end of its investment period in May 2016. First close on Fund III is targeted for May 2016 with a final close planned for later in the year.
Additionally, Beechbrook completed its eighth full exit in February 2016 through the sale of Alpha Financial Markets, a consultancy to the asset and wealth management industry, by Baird Capital to Dunedin. After two exits, Fund II has already returned almost 30% of drawn capital to investors. Beechbrook initially supported the buyout of Alpha by Baird with a unitranche loan and equity co-investment in 2013.
Beechbrook Partner Paul Shea said: “Baird Capital have done an excellent job. We are delighted to see that our strategy of supporting high-quality businesses is paying off, enabling us to deliver attractive risk-adjusted returns to our investors”.
Beechbrook also provided a new mezzanine loan for the acquisition of Alpha Financial Markets by Dunedin.