Njord Partners, the alternative investment manager launched by former Kohlberg Kravis Roberts and Oaktree Capital Management executives, has teamed up with Goldman Sachs' European Special Situations Group to do its first deal since raising its debut fund.

The London-based alternative investment firm and Goldman Sachs are providing more than €20 million in hybrid senior secured loans to Portuguese cable maker Solidal Condutores Eléctricos, according to people familiar with the matter. The financing will be used to fund expansion and capital expenditure as well as repaying some existing debt, one of the people said.