The Ireland Strategic Investment Fund (ISIF) has announced a €65m commitment the pan-European Muzinich Pan-European Private Debt III fund. Muzinich is a global investment firm specialising in public and private credit, managing $36bn for clients across a range of strategies. This is the third Muzinich Pan European fund supported by ISIF and since the initial ISIF commitment Muzinich has invested €233m in Irish companies. Companies it has supported include Citybin, Welltel, Sonas Bathrooms, Fastway Couriers, NetZero and Writech.
Muzinich has a strong Irish pipeline, two Ireland based Private Debt team members and an Irish office employing 16 people. The fund is targeting a portfolio of 25-35 loans, which will primarily be senior secured with deal sizes ranging between €15m and €50m.
This commitment aligns with ISIF’s Scaling Indigenous Businesses priority theme which seeks to ensure that there is a vibrant range of funding options available to Irish businesses to support their growth plans. This is an example of ISIF committing to an international manager with an on the ground presence in Ireland and an investment focus aligned with ISIF’s objective of growing Irish businesses.