Travers Smith LLP has advised long-standing client Investec Alternative Investment Management (“IAIM”), a subsidiary of Investec Bank plc (“Investec”), on the fundraising of its flagship fund, Investec Private Debt Fund II ("PDF II"). PDF II raised more than €600m in total commitments exceeding its target.
PDF II is a closed-ended, Luxembourg-based special limited partnership fund, focused on providing senior secured debt and subordinated debt for private equity and corporate-backed businesses with EBITDA between €3 and €50m, primarily located in the UK, Ireland, Benelux, and DACH regions.
In addition to the PDF II fundraising, Travers Smith LLP also advised IAIM on the successful launch of Senior Debt Fund I SCSp in November 2025. The total investable capital raised by Investec across SDF I and PDF II combined is approximately €1bn.
The Travers Smith team was led by Head of Funds Jeremy Elmore and Funds Partner Michael O'Brien Kelly, with support from Associate Clarice Hui and Trainee Sam Jinks. Specialist tax support was provided by Partner Tom Margesson, Senior Associate Sarah Roman and Trainee Niall Lamont.
