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P Capital Partners successfully closes PCP Corporate Credit Fund V at over €1.7bn – the largest single European fund fully dedicated to non sponsored lending for family-owned and entrepreneurial companies

We are delighted to announce the successful closing of the PCP Corporate Credit Fund V, exceeding €1.7bn. This milestone underscores the trust and confidence investors have placed in PCP’s vision since our beginnings in 2002.

With this latest fundraise, PCP continues to grow our corporate credit strategy, which we started over 20 years ago. PCP’s differentiated approach and singular strategic focus has been recognised by investors that continue to value the robustness and resilience of corporate credit. The fund attracted contributions from both longstanding and new investors, reflecting the strong relationships and attractive performance PCP has delivered in the private credit market for more than two decades.

Daniel Sachs, CEO at P Capital Partners, said: “The closing of PCP Corporate Credit Fund V marks a significant moment in our journey. Our focus on partnering with high-potential, entrepreneurial and family-owned businesses reflects our belief in their resilience and capacity for innovation and growth. We are grateful for the continued support from our investors and we are excited about the potential this fund has to drive meaningful change towards a more sustainable and resilient economy.”

Since July 2022, the Corporate Credit Fund V has announced six investments. These include Better Energy, a renewable energy company that creates new green energy, learnd, building management systems to reduce energy consumption and greenhouse gas emissions in the real estate sector, and Sparc Group, an entrepreneur-driven group that coordinates and acquires companies in the installation industry.

David Ullenius, CIO at P Capital Partners, said: “Entrepreneur-owned companies have shown time and again their ability to be resilient through tough economic times, making them an essential component of the business ecosystem and also of a diversified investment portfolio. This fund enables us to further our mission of empowering companies that are poised to make a significant impact on society.”

With a track record of partnering with over 160 companies in the past two decades and €7bn in capital raised to date, PCP is committed to providing tailored funding solutions that cater to the needs of growing businesses. PCP’s philosophy centres on being a long-term, reliable partner, aiding entrepreneurs and mid-sized companies in key areas such as expansion, acquisition, refinancing and restructuring with the aim to align financial solutions closely with strategic business goals.

Campbell Lutyens acted as global placement agent for PCP Fund V. Jeffrey Griffiths, Partner and Co-Head of Private Credit at Campbell Lutyens commented: “PCP provides investors access to a highly differentiated and less competitive segment of the direct lending market with its focus on founder and entrepreneur-owned businesses in Northern Europe’s most vibrant economies. They also benefit from one of the longest track records in European private credit executed by the same team for over 20 years. This allowed us to attract some of the highest quality institutional investors to this fundraise and position PCP’s leading franchise for further success.”

Investors in PCP Corporate Credit Fund V hail from diverse backgrounds, including pension funds, insurance companies, foundations and family offices, distributed across Europe and the US. This broad investor base is a testament to PCP’s global reach and the broad appeal of our investment philosophy.