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Proventus Capital Partners raises SEK 12 billion (EUR 1.3 billion) to meet increasing demand for alternative corporate financing

Proventus Capital Partners, a independent European institutional lender, has completed raising its third fund – Proventus Capital Partners III.

Proventus Capital Partners raised its first institutional fund in 2009 with total commitments of EUR 216 million. In 2011 and 2012, Proventus Capital Partners raised funds II and IIB with total commitments of SEK 7.4 billion. Following a first close in May 2014, Proventus Capital Partners III surpassed the fund’s target size of SEK 10 billion and held a final close in October 2014 at the cap of approximately SEK 12 billion.

“The market for institutional lending, outside of the banking system or in combination with banks, is growing rapidly. In this segment, we aim to be a strategic financial partner to the companies we invest in, and not just a supplier of money. We are also well placed to address funding needs that are not suitable for traditional sources of credit. Over time, the best return on our investments will come from assisting companies in making the most of their business opportunities,” says Daniel Sachs, CEO of Proventus Capital Management.

Investors in Proventus Capital Partners III include public and corporate pension funds, insurance companies, foundations, endowments and family offices with approximately one third of the capital raised outside the Nordics, widening the firm’s network and mirroring the fund’s geographic reach. Proventus AB, the founding parent of Proventus Capital Partners, is one of the largest investors in the fund. Proventus Capital Partners used Credit Suisse as placement agent for Proventus Capital Partners III, helping to broaden the investor base outside the Nordics for the first time.

Proventus Capital Partners is an active credit investor and loan provider to Northern and Western European companies in need of capital for expansion, acquisition financing, restructurings and refinancing. Proventus Capital Partners also conducts investments in publically traded corporate credits. The funds of Proventus Capital Partners have combined assets of EUR 2.5 billion and are managed by Proventus Capital Management AB, which is owned by management. Proventus AB, founded and owned by Robert Weil, is one of the largest investors in the funds of Proventus Capital Partners.

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