BIRMINGHAM, Ala., Jan. 23, 2013 – Harbert Management Corporation (“HMC”), an alternative investment manager, announced today it is sponsoring a new team to raise a fund focused on European growth lending. The team will be led by Johan Kampe and David Bateman and will be based out of HMC’s existing London, UK office.
The fund, Harbert European Growth Capital Fund (“HEGCF”), will target to raise €200 million to invest in small to medium size high-growth technology companies throughout Western and Northern Europe.
The two senior principals have worked together since 2005. From 2005-2010, they have sourced and managed growth loans primarily across Western Europe for ETV Capital, one of the leading European growth loan providers at the time. Over the past 18 months, Mr. Kampe and Mr. Bateman have stayed active in the market on a deal by deal basis, closing eight transactions.
Mr. Kampe stated, “Mr. Bateman and I are delighted to join Harbert, a company that provides an institutional platform and wide expertise in the alternatives space, and look forward to a successful raise for HEGCF.” Mr. Kampe added, “The tight liquidity situation and resulting funding gap in the market has created a huge opportunity for this strategy.”
HMC’s own commitment to HEGCF is €25 million, which was made on the same terms and conditions as all other limited partners. HMC’s funding is fully drawable and available to fund transactions immediately, together with funding from other co-investment partners.
“Opportunities to deploy capital are abundant, reflecting the challenging credit marketing conditions growth companies in Europe are facing today,” said Mike Luce, President & Chief Operating Officer for HMC. “HMC believes the launch of HEGCF and its direct lending model is timely. Investors searching for current yield combined with equity upside should find investment in the fund to be a compelling proposition.”
HMC, an alternative asset management firm with approximately $3 billion in assets under management as of January 1, 2013, is a privately-owned firm formed in 1993 to sponsor alternative asset investment funds. Based in Birmingham, Alabama, HMC serves foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices and high net worth individuals across multiple asset classes. Investment strategies include European and US real estate, venture capital, mezzanine debt, independent power, US and Australian private equity, and public securities.
Additional information about HMC can be found at www.harbert.net.
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