Direct Private Debt

Our offering

We manage a direct lending strategy that invests in the senior secured floating private debt of sustainable European medium-sized enterprises (“SMEs”) that are seeking to improve their ESG profile.

Our approach

The long-term investment strategy we manage prioritises stable income and capital preservation. We favour senior secured unitranche debt, aiming to deliver steady income throughout all market conditions.

Europe offers both diversification and selectivity

With over 12 million SMEs across Italy, France, Spain, and Germany, this segment presents significant opportunities for both diversification and selectivity due to each country’s highly differentiated economies. In addition, challenging macroeconomic conditions, the ongoing downsizing of the banking sector, and increasing regulations continue to position private debt as a preferred financing source—particularly for small and SMEs, which are most impacted by these shifts.

A strong network for private debt opportunities

Our senior investment team brings extensive expertise across banking, private debt, and private equity, leveraging local market knowledge from Italian, French, German, and Spanish professionals. Meanwhile, Generali Group’s strong brand recognition and long-established indirect networks in private debt and private equity provide us an additional edge. By working closely with banks, private equity firms, and debt advisors, we ensure a rigorous, well-connected approach to identifying and capitalizing on direct private debt opportunities.