Recovery push for Intermediate Capital
11 April 2012
Intermediate Capital has raised £746 million for a new recovery fund that will invest in European private-equity deals in need of fresh capital.
The mezzanine lender says the fund will target over-indebted mid-market companies that are looking to slash borrowings.
It hopes to buy debt at discounts to face value. Intermediate reported its first loss for 20 years in 2009.
It was forced into a £351 million rights issue to repair its balance sheet.
