CIC Private Debt

What CIC Private Debt does

CIC Private Debt is a Paris-based private debt fund manager founded in 2003 (originally as CIC Mezzanine, rebranded in 2008) and operating as a subsidiary of La Française Group, the asset management division of Crédit Mutuel Alliance Fédérale. The firm manages €3.5 billion in assets across 13 investment vehicles—including FPCI, SLP, FCT, and CLO structures—for 50+ institutional investors and 400+ private investors. It is regulated by the AMF (under number GP-08000002) and authorized as an AIFM under EU Directive 2011/61/EU, with offices in Paris, London, and Frankfurt.

The firm operates four core financing strategies: Mezzanine & Unitranche (€5–100m tickets for SMEs and ETIs with €5–30m EBITDA), Senior Mid Cap (French companies with €8–75m EBITDA), Senior Large Cap Europe (€75–500m EBITDA, including LBOs), and Infrastructure (energy transition and infrastructure projects). These provide non-dilutive debt for buyouts, growth capital, refinancing, and recapitalizations. Revenue is generated primarily through recurring management fees on AUM across the fund complex, with performance fees and carried interest as supplementary income.

CIC Private Debt employs 41–42 professionals with deep domain expertise drawn from CIC, Bpifrance, LCL, Lazard, and major international banks. The firm sources deals through proprietary channels leveraging the CIC and Crédit Mutuel banking network, as well as relationships with private equity funds, M&A advisors, and specialized financing teams. Since inception it has executed over 500 investments across 120+ mezzanine, 200+ senior mid-cap, and 20+ infrastructure transactions, with management citing historically low default rates and high recovery rates on senior debt. Recent activity includes the 2024 launch of its first CLO (Victory Street CLO I), the 2025 launch of France's first pure private debt ELTIF (CIC Private Debt Opportunités), and a €610 million fundraising for CIC Mezzanine & Unitranche 6.

Name

CIC Private Debt

Legal name

CIC Private Debt

Website

https://cic-privatedebt.eu

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

CIC Private Debt is a Paris-based private debt fund manager managing €3.5 billion across 13 vehicles for 50+ institutional and 400+ private investors. A subsidiary of La Française Group within Crédit Mutuel Alliance Fédérale, it provides mezzanine, senior, and infrastructure debt to European SMEs and mid-market companies.

Ownership category

akta.pro rank

Product category

Private Debt Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Credit Intermediation and Related Activities (522), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Middle-Market Lending (FSANADAI)

akta.pro secondary industries

Senior Secured Direct Lending (FSANADAA), Infrastructure & Project Finance Private Debt (FSANADAH), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Private debt management
• Mezzanine financing
• Senior debt lending
• Direct lending funds
• Infrastructure debt

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Fund Management Fees: CIC Private Debt generates revenue through management fees charged on assets under management across its 13 investment structures totaling over €3.5 billion. The funds include FPCI, SLP, FCT structures, and CLO vehicles.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

CIC Private Debt is a Paris-based private debt asset manager that originates and structures disintermediated debt financing (mezzanine, unitranche, senior debt, and infrastructure debt) for French and European SMEs, mid-cap companies (ETIs), and large-cap firms. It manages 13 investment vehicles (FPCI, SLP, FCT, CLO) totaling over €3.5 billion on behalf of 50+ institutional investors and 400+ private investors, providing non-dilutive financing for LBOs, growth capital, refinancing, and infrastructure projects.

Product overview

CIC Private Debt is a private debt management company offering a comprehensive suite of financing solutions for European companies. The company operates four core product lines: Mezzanine & Unitranche Financing (€5m-€100m for SMEs with €5-30m EBITDA), Senior Mid Cap Financing (for companies with €8-75m EBITDA), Senior Large Cap Europe Financing (for companies with €75-500m EBITDA), and Infrastructure Financing (for energy transition and infrastructure projects). The company manages 13 investment vehicles including FPCI, SLP, FCT funds and CLOs, collectively managing €3.5 billion in assets. Products range from pure private debt evergreen ELTIFs to traditional closed-end funds, serving over 50 institutional investors and 400 private investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Mezzanine & Unitranche Financing Bond-format financing solutions ranging from €5m to €100m for French and European SMEs and mid-sized companies (ETIs) with €5m-€30m EBITDA. Mezzanine offers intermediate risk between debt and equity with high fixed returns, while Unitranche provides first-rank senior debt combining senior and mezzanine risk profiles. Used for buy-out financing, growth capital, refinancing, and recapitalization.
• Senior Mid Cap Financing Senior debt financing tranches for acquisition, external growth, or refinancing operations targeting French companies with €8m to €75m EBITDA. Provides significant financing without capital dilution, typically in syndicated bullet loan format. Delivered through FCT vehicles and managed funds.
• Senior Large Cap Europe Financing Large cap senior secured leveraged loans for European companies with €75m to €500m EBITDA, including LBOs, expansion capex, and bolt-on acquisitions. Transactions are held in dedicated funds or CLOs managed by CIC Private Debt, with activity led from the London office.
• Infrastructure Financing Debt financing for energy transition projects (renewable energy, cogeneration) and infrastructure projects (urban cooling/heating networks, highways, broadband, tramways). Focus on sectors with long-term visibility and stable cash flows.
• CIC Mezzanine & Unitranche Financing 6 Société de Libre Partnership (SLP) fund in fundraising and investment period for Mezzanine and Unitranche investments, raised €610 million in May 2025.
• CIC Debt Fund 5 5th Senior Mid Cap debt fund (FCT) launched in October 2025 with initial closing of €194 million, continuing the senior mid cap debt franchise.
• CIC European Large Cap Senior Debt Fund 3 Latest-vintage fund for Large Cap senior debt investments in European companies, currently in investment period.
• Victory Street CLO I Collateralized Loan Obligation (CLO) successfully placed in November 2024; CIC Private Debt's first CLO vehicle for large-cap senior debt holdings.
• CM-CIC Infra Debt Fund Société de Libre Partnership (SLP) in investment period for infrastructure debt financing, supporting energy transition and infrastructure projects.
• CIC Transition Infra Debt 2 Second-vintage infrastructure transition debt fund supporting the firm's energy transition and infrastructure mandate.
• CIC Private Debt Opportunités First European Long-Term Investment Fund (ELTIF) of pure private debt, evergreen structure, approved by AMF. Provides private investors access to private debt for wealth diversification.

Quantifiable outcome

• 500+ investments completed since 2003
• +2 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• Banque TransatlantiqueminorOthersCIC Private Debt Foundation is housed within the Fonds de Dotation Transatlantique, created by Banque Transatlantique in 2012, benefiting from their expertise in foundation management.
• UN PRI (Principles for Responsible Investment)minorOthersCIC Private Debt is a signatory to the UN-supported Principles for Responsible Investment, committing to incorporate ESG factors into investment decisions.
• France InvestminorOthersCIC Private Debt is a signatory to the France Invest Charter of Commitment and Charter of Parity, supporting responsible investment practices in the French private equity industry.
• Initiative Climat International (France Invest)minorOthersCIC Private Debt participates in the International Climate Initiative working group focused on climate solutions and collaboration among financial sector stakeholders.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Tikehau Capital: Paris-based alternative asset manager with a sizeable European private debt business serving mid-market companies via mezzanine, unitranche and senior direct lending. Highly comparable to CIC Private Debt on geography, product mix (mezzanine to senior), and target borrower (European SMEs/ETIs).
• Eurazeo: Leading French private investment group with a private debt platform (formerly Idinvest) offering senior, mezzanine and unitranche financing to European mid-market companies. Directly comparable on geography, product suite and target customer profile.
• Hayfin Capital Management: London-based specialist private credit manager offering direct lending, mezzanine, and special situations to European mid- and large-cap companies. Directly comparable on strategy mix, European mid-cap focus and institutional LP base.
• Pemberton Asset Management: European direct lending specialist managing senior debt and CLO vehicles focused on European mid-market borrowers. Directly comparable in senior direct lending and CLO issuance, with overlapping European mid-to-large-cap deal flow.
• Arcmont Asset Management: European private debt manager (formerly a Credit Suisse affiliate) focused on senior and unitranche direct lending to European mid-market companies, with active CLO program. Closely comparable on product suite and European SME/ETI target segment.
• Bpifrance (Investissement): French public investment bank with significant senior and mezzanine debt fund activity for French SMEs and mid-caps. A direct domestic peer on French SME/ETI private debt origination and a frequently cited benchmark in league tables.
• Bridgepoint Credit: European mid-market direct lending platform affiliated with Bridgepoint private equity. Offers unitranche and senior debt to European SMEs/ETIs, directly comparable on target segment and capital structure positioning.

Broad incumbents

• ICG (Intermediate Capital Group): London-listed alternative asset manager with a large European direct lending and mezzanine franchise serving mid- and large-cap companies across Europe. Comparable on product (senior debt, mezzanine, infrastructure debt) and on the European mid-to-large-cap target segment, though at much greater scale.
• Muzinich & Co: Global credit-focused asset manager with a sizable European private debt / direct lending business serving mid-market companies. Comparable on private debt focus and European institutional client base, though more diversified across credit strategies.
• Barings (Barings BDC / Private Credit): Global private credit franchise with growing European direct lending activity. Comparable on private debt product offering and institutional LP base, with a much larger global AUM footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cic-private-debt

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CIC Private Debt