French investment firm Andera Partners has held a first and final close for its fourth sponsorless mezzanine debt fund at €500m, beating the original €450m hard-cap, the firm said in a statement. The new vehicle is also 60% larger than its predecessor, which raised €315m in July 2017.

Despite the Covid-19-driven slowdown in fundraising activity, the ActoMezz IV fund surpassed its target within 16 weeks, according to Andera, formerly known as Edmond de Rothschild Investment Partners.