The strategy targets mid-market corporate borrowers with $25 million to $500 million annual turnover looking for a loan between $10 million and $60 million.
Mid-market private debt investor, Epsilon Direct Lending, is asking potential investors to think about 10 per cent annual returns as it looks to raise its new fund.Epsilon has begun drumming up interest in its second fund, after hitting $200 million deployed into eight deals across the first iteration raised two years ago. Its picks so far have included IT training services business EdventureCo and sleep apnea device microcap SomnoMed.
Epsilon co-founder Joe Millward said its loans were bilateral as a sole lender, floating rate and between three and five years. The firm is staying away from property lending and consumer discretionary businesses, instead taking its picks from sectors it sees as non-cyclical across telcos, IT services and childcare.
Epsilon was founded by former CBA corporate loans operatives Millward, Mick Wright-Smith and Paul Nagy three years ago.
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