On July 26th, 2019, Talde has made the first closing for an amount that exceeds €40 million of its new fund Talde Deuda Alternativa, FILPE, a fund with a target size of €100 million.
Within its strategy of expanding its financial products’ offering to companies, Talde has launched this Debt Fund, with the aim of providing financing to SMEs to support them in their growth and consolidation phase via complementary or alternative debt instruments. This ELTIF fund has been authorized by CNMV and is not only targeted to institutional investors but also to retail investors. As such, it has been structured in accordance with recently approved tax regulations, which include a 1% Income Tax rate for the fund and also provide interesting tax benefits to individual investors based in Biscay and Alava in their Income Tax, Wealth Tax (with a full tax exemption) and Inheritance Tax.
The aim of the new Fund is to support European SMEs in their growth and consolidation phase, which are led by a committed management team and have a consistent generation of cash. Companies requiring long-term financing will be particularly supported, (especially through senior debt with guarantees and term of 5 to 8 years) to realize acquisition opportunities of other companies that may allow a sectoral consolidation or companies with Investment plans that promote both the national and international development of their activity
Additionally, the fund will provide a financing alternative for companies that have a particular shareholding structure without the intention to change it, as for instance is the world of cooperatives, to companies which are not willing to give access to their capital structure to an external shareholder or to companies which find difficult to accept the usual drag along agreements which are common to Private Equity Funds. The Fund will provide funding to 8 to 15 companies for an amount ranging from 5 to 15 million euros each.
The investors that have participated in this first closing of the fund include institutional investors, family offices and also retail investors, which have been reached thanks to an adhoc collaboration with Andbank.