RiverRock Announces First Close Of Mid-Market Direct Lending Fund

May 23 2011 | 1:34pm ET

London-based RiverRock European Capital Partners has completed the external close of its European Opportunities Fund at €76 million.

The fund expects to finalize its legal close by the end of May and make its first investments soon after. Final close is expected within 12 months. The fund’s target size is €250 million.

The European Investment Fund is RiverRock’s key investor in the European Opportunities Fund, alongside other leading institutional investors and private family offices in Europe and the Middle East, as well as RiverRock’s own internal capital.
The European Opportunities Fund is a five-year fund targeting direct lending to strong, small to mid-sized European companies looking for growth or working capital to build their businesses. The fund typically invests between €5 and €15 million in each company and works actively with the management to strengthen and grow these companies.
Speaking about the close, RiverRock CIO Jason Carley said: “We are very excited to be able to announce this close and greatly appreciate the support of our investors. The availability of capital for European SME’s remains terribly depressed and with the withdrawal of so many traditional financing sources from the market this situation has become structural rather than merely cyclical. We look forward to helping deserving companies across Europe access financing and support.”
RiverRock is an investment specialist providing innovative capital solutions for small to medium-sized companies across Europe. It’s partners are Roland Berger, Jason Carley, Florian Lahnstein and Gero Wendenburg.

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