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LONDON, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Harbert European Growth Capital (“HEGCF”), is pleased to announce the final close of its second fund (“Fund II”) at €215 million, a substantial increase over Harbert European Growth Capital Fund I (“Fund I”). HEGCF, which provides debt capital to fund growth opportunities across technology, life science and other innovative sectors attracted significant institutional capital, as well as numerous family office investors. “We are grateful for the support and trust that our existing and new investors have placed in us,” said David Bateman, Senior Managing Director and co-head of HEGCF.
“The market opportunity remains strong with many companies across Europe seeking expansion funding of various forms,” notes Johan Kampe, Senior Managing Director and co-head of HEGCF. It has been a busy start with Fund II already having closed investments in 21 new companies since the first close in summer 2017.
HECGF also continues to have follow on investing activity into the Fund I portfolio and has made four follow on investments. HEGCF would like to welcome the following Fund II companies:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/23c227c0-85bc-46d3-971e-469d65b25ceb
About Harbert European Growth Capital Fund II, SCSp
HEGCF provides expansion capital, typically in the form of debt, to European growth businesses, predominantly in the technology, life sciences and environmental sectors. Typical loan sizes range from €1-30+ million with the flexibility to do larger transactions opportunistically. We look for investment opportunities in high growth businesses with proven management teams in need of capital to fuel organic growth, acquisitions, equipment purchases, bridge loans and various forms of recapitalization.
About Harbert Management Corporation
Harbert European Growth Capital Fund II, SCSp is sponsored by Harbert Management Corporation (“HMC”) and closed to new investors on August 31, 2018. HMC, an alternative asset management firm with approximately $5.9 billion in Regulatory Assets Under Management as of August 31, 2018 is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, fund of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, U.S. growth capital, credit solutions, independent power, European growth equity, and hedge funds. Additional information about HMC can be found at www.harbert.net.
Contact: Harbert Investor Relations