Incus Capital ("Incus"), the Madrid-based real assets private credit specialist, has completed a second close on its European Credit Fund V ("Fund V"), reaching 70% of its €800 million target in closed and committed capital. Fund V builds on Incus' previous European credit funds, continuing the firm's long-standing strategy of providing asset-backed financing to mid-market businesses across Europe.
The fund has received significant support from both existing and new investors across Europe, North America and Latin American, including pension funds, insurance companies, family offices and other long-term capital providers.
The strong fundraising momentum reflects a growing investor demand for Incus Capital´s strategy that offers attractive risk-adjusted returns with strong downside protection. Martin Pommier, Managing Partner, commented: "In addition to offering a long-standing track record of investing in asset-backed credit, we are also experiencing an increased appreciation for our “hard asset” and “mid-market” focus from investors looking for diversification and uncorrelated strategies to complement their existing private credit portfolios.”
Fund V has already demonstrated strong deployment momentum, with €400 million of committed and invested capital (50% of total fund size) across a diversified portfolio of transactions in Europe. At a time when rapid technological change is increasing uncertainty across many sectors, Incus continues to focus on financing essential physical assets whose long-term value is underpinned by tangible collateral and fundamental economic demand. Investments completed to date include financing for prime residential development projects, logistics assets, hospitality industry, energy transition infrastructure, residential repositioning opportunities and consolidation strategies within fragmented property services markets.
Alvaro Rivera, Managing Partner and head of deal origination of Incus, added: "The continued retrenchment of traditional lenders, together with increasing refinancing needs across the European mid-market, has expanded the opportunity set for Incus. We continue to see strong demand from borrowers seeking flexible financing solutions – Fund V is very well positioned to capitalize on these market dynamics."
Fund V benefits from a robust near-term deal pipeline and is currently in advanced discussions on several additional transactions in France, Spain, Portugal, Germany and Italy, providing strong visibility on future deployment opportunities.
About Incus Capital
Founded in 2012, Incus Capital is a real assets investment firm with offices in Madrid, Lisbon, Milan, Paris, Frankfurt and Luxembourg. Incus provides flexible capital solutions to mid-market companies in Europe with a focus on infrastructure, real estate and alternative assets. The firm’s investment strategy includes a strong focus on downside protection with target investment sizes between €25 million to €60 million. Incus Capital acts as the investment advisor to funds with €2 billion in assets under management.
For further information, visit www.incuscapital.com
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