Park Square Capital Partners (“Park Square”), one of Europe’s leading independent credit providers, today announces the successful final close for Park Square Capital Partners III (“PSCP III” or the “Fund”) at €1.2bn of investor commitments. The Fund is able to use leverage, taking total investable capital to €1.5bn. PSCP III closed significantly above its initial target of €1.0bn, and is also substantially larger than its predecessor Park Square Capital Partners II, a 2010 vintage fund, which closed at €850m.
PSCP III is Park Square’s third subordinated debt fund, and will continue the strategy of investing in the debt of high-quality levered companies backed by leading private equity sponsors across Europe and the US. Park Square’s flexible investment approach means the Fund is able to deploy capital across the market cycle, focusing on new lending during stable market conditions, and on secondary investments during periods of price dislocation.
PSCP III has attracted a broad mix of investors by type and geography, including commitments from sovereign wealth funds, pension funds, insurance companies and other institutional investors across Europe, the US and Asia.
Robin Doumar, Managing Partner at Park Square, said: “We are delighted by the strong support from our investors for our latest subordinated debt fund. The continued retreat from leveraged finance by the banks, coupled with record levels of private equity dry powder, means there is a significant demand for private credit in Europe. We also expect that ongoing market volatility will create numerous opportunities to acquire dislocated debt at attractive prices.”
Charlotte Balbirnie, Alex Jones
+44 (20) 7952 2000
About Park Square Capital
Park Square Capital is one of Europe’s leading independent credit providers, investing in senior debt, subordinated debt and special situations. Park Square focuses on investing in high-quality levered companies backed by leading financial sponsors in Europe and the US. The firm has a selective, long-term and flexible investment approach, aimed at delivering attractive risk-adjusted returns across the market cycle. Park Square currently manages approximately $5bn of capital on behalf of its investors, which include global public and private pension funds, sovereign wealth funds, insurance companies and asset managers. The firm was founded in 2004, and has offices in London and New York.