ABN Amro has raised £105m (€176m) for its second mezzanine fund.

The fund raising is timely given the current state of the European high yield market. Traditionally, mezzanine is called for as part of buyout financing when the high yield market is out of action, as is the case now. The mezzanine funding can be used as a permanent part of the financing structure, or can feature as a bridge, to be taken out by high yield bonds.