All Seas Capital’s first private credit fund raises $400m

• Duo behind All Seas co-founded and led KKR’s European mezzanine and preferred equity business
• More than half of the committed capital has already been deployed
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All Seas Capital, a private credit manager focused on Europe and led by former KKR executives, has raised $400m for its maiden strategy.

Since inception, All Seas Capital I has already invested more than half of the raise to growing companies including Attivo Group, a financial planning firm, and Hakim Group, an opticians business, in the UK.

The London-based firm “provides flexible long-term financing solutions to leading Western European mid-market businesses,” according to a statement on Wednesday.

Marc Ciancimino and Cristobal Cuart, who co-founded and led KKR’s European mezzanine and preferred equity business, started All Seas in 2019. They had invested €3.4bn ($3.7bn) in 45 businesses before founding the firm.

“As entrepreneurs ourselves, we launched All Seas Capital to take advantage of the deep pool of opportunities across the European mid-market, accessible through our established sourcing network across our target markets of Western and Northern Europe,” said Cuart.