The European arm of US alternatives manager Harbert Management Corporation (HMC) is looking to hold a first close later this month for its maiden growth debt fund, sources close to the process revealed. Harbert European Growth Capital Fund has a €200 million target. The fund will invest in small to medium sized high-growth technology companies in Western and Northern Europe, the firm said in a statement.
The first close, likely to be on between €30 million and €40 million, includes ‘friends and family’ investors as well as HMC’s cornerstone commitment of €25 million. That includes contributions from the firm’s 17 partners, a source said. The strong alignment of interests between the firm’s own staff and investors is a key element of Harbert’s strategy, the source added…
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