Nordic direct lender Ture Make investments Companions has secured a €30m (£25.2m) dedication from the European Funding Fund (EIF) for its newest personal credit score fund.
Ture Credit score Fund III gives financing to small- and medium-sized enterprises within the Nordic area with robust environmental, social and governance (ESG) requirements.
The fund goals to shut its capital elevating in 2024 with a goal measurement of €500m, specializing in institutional traders.
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“We’re thrilled to welcome the EIF as an investor within the Ture Credit score Fund III,” mentioned Magnus Kihlgren, answerable for worldwide investor relations at Ture Make investments Companions. “We firmly consider that entry to bespoke financing options for SMEs is a key driver of European progress, and we’re delighted to have the help of the EIF. Our partnership with the EIF is a testomony to the standard of our worth proposition as a monetary establishment and the attractiveness of our providing to each traders and debtors.”
The dedication from the EU growth lender is supported by the InvestEU programme, which mobilises investments in help of EU coverage priorities such because the inexperienced transition.
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That is the primary time that InvestEU has supported a senior personal credit score fund working within the Nordic international locations.
“Small companies want the correct financing to develop and contribute to a dynamic European financial system,” mentioned EIF chief govt Marjut Falkstedt. “Our funding within the Ture Credit score Fund III reveals our dedication to supporting sustainable and inclusive progress in Europe. This partnership will assist small and mid-sized firms within the Nordic area with related monetary help to succeed.”
Stockholm-headquartered Ture Make investments Companions has offered over 90 loans to SMEs and manages belongings of greater than €1.4bn.
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