John Bakie
The fund closed above target and with more than four times as much capital as its predecessor.
Fundraising has been slower to recover than deal volumes due to covid-19 restrictions preventing GPs and LPs from meeting.
The firm is looking to provide wealth and asset managers’ clients with access to all of its private debt strategies.
The fund will continue MV’s strategy of investing in defensive upper mid-market companies.
Positive business sentiment as a result of the UK’s strong vaccine rollout is thought to have helped drive transaction volumes.
Sovereign wealth interest is becoming apparent as one of the world’s nascent debt markets shows signs of growth.
Private debt is yet to gain a foothold in the region, but this may be about to change.
The new vehicle will look for opportunities in the underserved SME market in Canada.
The deal with US-based Wafra Capital Partners will enable ThinCats to make £2bn of loans over the next few years.
The vehicle will follow its predecessor strategy to back firms in the food and beverage sector and related industries.