Spanish investors boost Muzinich & Co's first ELTIF fund closure at €450m

Eugenia Jiménez
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Spanish investors boost Muzinich & Co's first ELTIF fund closure at €450m

Corporate credit management specialist Muzinich & Co has announced the closure of its first European Long-Term Investment Fund (ELTIF) after reaching €450m.

The Fund, the Muzinich Firstlight Middle Market ELTIF, has received capital from investors across Europe, with a significant stake from Spanish investors, the company said in a note.

In Spain, the Fund has been distributed by Sabadell Urquijo Banca Privada and by other private banking firms, family offices, banks, and insurance companies.

The fund sought to invest mostly in syndicated loans and private debt instruments, and may also have invested invest in bonds and junior investment opportunities. As an ELTIF, it was available for investment by retail investors in the UK and Europe, allowing them access to long-term asset classes historically only available to professional investors.

 Rafael Ximénez de Embún, Muzinich & Co head of Iberia and LatAm, said: "Although we have been operating in private markets since 2014, this is the first time we offer retail investors the possibility to invest in private debt, alongside a diversified portfolio of syndicated loans. Individuals have traditionally had limited access to this type of asset classes.  

"Our aim is to keep expanding our private markets fund range, and we are planing to launch more ELTIFs."

Eugenia Jiménez
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Eugenia Jiménez

Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as Italy.