DECALIA SA has held a final close on its second private credit fund, DECALIA Private Credit Strategies II (“DPCS II”) at EUR 311m, exceeding the size of its predecessor vehicle by more than 2.5x and beating its original fundraising target of EUR 250m.
The fund invests in European specialised credit, targeting double-digit net returns by focussing on less competitive segments of the private debt market, through a strategy employing a mix of co-investments, secondary investments and partnership investments.
Despite the larger size of the vehicle, by the time of its final close, the fund had already completed 24 deals and was over 80% deployed during a period of attractive conditions for origination.
“European private credit markets are growing in sophistication as well as size,” said Reji Vettasseri, Lead Portfolio Manager for the DPCS strategy. “There is not only increased demand from borrowers for value-added financing solutions, but there is also a growing desire from LPs to seek out alpha-generating strategies that can generate superior returns without compromising on risk.”
“We are proud of the successful trajectory of our franchise DECALIA Private Credit Strategies,” commented Nicolò Miscioscia, Partner at DECALIA SA and Co-Portfolio Manager for DPCS. “this milestone showcases our capability of offering a differentiated approach in a private credit market that offers more choices than ever before. We are deeply grateful to all our investors for their support”.
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