Beechbrook Makes £151M First Close on Fourth UK Private Credit Fund

UK and Europe specialist lower-middle-market private debt investment manager Beechbrook Capital said it has made a £151M first close on its fourth UK small- and medium-sized enterprises (SME) credit fund, UK SME Credit IV LP.

The London-based firm said the first close tally includes commitments from separately managed accounts and that £40M of the total was committed by British Business Investments, a subsidiary of government-owned development bank the British Business Bank. Credit IV is targeting a final raise of £250M and, like its predecessor fund that raised £185M, aims to provide senior secured loans to businesses with EBITDAs of up to £15M.

Loans from the fund will support acquisitions, buy-outs, refinancings, and organic growth, and Beechbrook estimates there are approximately 35,500 companies that meet its criteria in the UK market.

Source: https://www.beechbrookcapital.com/beechbrook-capital-announces-first-close-on-uk-sme-credit-iv-and-completes-final-investments-in-predecessor-fund/