Corporate financing in Europe is estimated to €100 billion. Faced with this need, investors are looking for alternatives to bonds, on which yields are persistently low. This has led to a boom in the private debt asset class over the last five years.
The credit continuum of Europe's first Fixed Income platform
in assets under management1
launch of the platform
Amundi Private Debt is a leading player in senior corporate private debt financing in the Eurozone mid-market segment. Our funds give investors the opportunity to contribute to the senior financing of unlisted mid-sized companies and thus to get exposure to diversifying assets that offer more attractive yields than those of the traditional bond market. At the same time, our products enable unlisted mid-sized companies to expand their sources of financing beyond bank loans, over the long term (generally seven years), and with repayment at maturity.
Thanks to our many partnerships with leading European investment banks and our considerable fund-raising ability, we enjoy first-hand access to unlisted mid-sized companies in the Eurozone, and we are involved in virtually all private issuances which are eligible to our funds. Since its launch in 2012, Amundi Private Debt has accordingly raised and invested close to €7 billion through three generations of funds and 125 transactions in the Eurozone, with a focus in France. In 2018, around 15 transactions were carried out.
The team, made up of highly experienced corporate finance professionals, follows a very selective investment process (6% hit ratio) based on an in-depth analysis of the company’s credit quality, the deal structure and the contractual documentation. This rigorous investment process also incorporates ESG criteria. We finance various business projects (investment, external growth, refinancing, etc.) and then support the issuer over the entire lending period, adjusting the documentation where necessary.
Our offer is aimed at European professional investors seeking to diversify their sources of return through closed ended funds and dedicated accounts. Our securitization funds (FCTs) enjoy FPE status.
Over the last two years, Amundi's range of private debt solutions has expanded from its core expertise of senior corporate debt to include new areas of private lending:
- Launch in 2017 of innovative private debt financings for real assets in the Italian agrifood sector, mainly backed by ham and Parmesan assets.
- Launch in 2018 of a leveraged loans investment program focusing on syndicated loans issued for large senior secured LBOs in Europe.
- Launch in 2018 of a commercial real estate loans investment program offering a diversified exposure to the Eurozone senior real estate debt market. The loans are mainly backed by core+ underlying real estate assets. This programs benefits from a particularly favourable Solvency 2 treatment.
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1. Source: Amundi, at 30 june 2019.
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