Travers Smith LLP has advised long-standing client Investec Alternative Investment Management (“IAIM”), a subsidiary of Investec Bank plc (“Investec”), on the successful launch of Investec’s inaugural European senior debt fund, Investec Senior Debt Fund I (“SDF I”, the “fund”), a private credit fund with approximately €400m of investable capital managed by the Investec Direct Lending team.
SDF I was established through an innovative credit secondary transaction, led by Carlyle AlpInvest, comprised of a secondary purchase of high-quality performing loans from Investec’s balance sheet to form a seed portfolio. In addition, Carlyle AlpInvest provided significant new capital which is available alongside this portfolio to invest in new direct lending investments. SDF I is a close-ended, Luxembourg-based special limited partnership focused on providing traditional senior secured loans for European private equity and corporate backed businesses between €3m-€50m EBITDA primarily based in the UK, Ireland, Benelux, and DACH regions.
The Travers Smith team was led by Head of Funds Jeremy Elmore and Funds Partner Michael O'Brien Kelly supported by Associates James Forge and Clarice Hui and Trainee Sam Jinks. Finance Partner Adam Burk and Associate Hannah Ramsey provided specialist Banking and Finance advice.
