CMS advises Arcano on the setup and first closing of their new ELTIF fund
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CMS is proud to have supported Arcano, a leading independent financial advisory and alternative asset management firm, on the set up and first closing of their Arcano Private Debt II S.C.A. SICAV-RAIF ELTIF fund.
The fund has a target size of €150–€200 million and has successfully achieved its first closing at €90 million, demonstrating strong investor interest and commitment.
Arcano Private Debt II has already received a €15 million investment from the European Investment Fund (EIF), part of the EIB Group, through resources from the InvestEU programme. An additional €20 million is now being provided from the Spanish Recovery, Transformation and Resilience Plan via the Regional Resilience Fund and, more specifically, the Alternative Lending Instrument for Sustainable Development intermediated by the EIF.
The new European long-term debt fund’s core objective is to support sustainability-focused small and medium-sized enterprises (SMEs) and mid-caps, fostering innovation, sustainability, and competitiveness across the regions.
Targeted at institutional, professional, and retail investors (qualified as well-informed investors under the RAIF law), Arcano’s new ELTIF fund primarily focuses on loan origination, offering flexible financing solutions to businesses across various sectors within the European Union, with a particular emphasis on Spain and Italy.
CMS acted as lead counsel, advising on all legal aspects of the fund’s formation and first closing. Our Investment Funds team included Aurélien Hollard (Partner), Harrison Dans (Counsel), Tristan Louet (Managing Associate), and Thomas Risch (Associate).
