Private Debt

Leading mid-market direct lender
Types of financing
Unitranche and mezzanine
Company profile

SMEs with EBITDA over €12m


Projects: LBO, external growth, refinancing, organic growth (capex)


Sectors: no sector restrictions but a list of preferred sectors (software, healthcare, financial services, education, etc.)


Regions: euro zone

Amount invested
Up to €250m

Being a long-standing private debt manager and the chosen partner of top tier European private equity sponsors for mid-market financing, CAPZA has demonstrated over the past 20 years a unique capacity to generate high performing proprietary investments.

A cycle tested investment team and strategy: CAPZA has been operating in the private debt market since 2004. We have built a track record of 20 years with more than 130 transactions and manage €5.4 billion1 of private debt assets. The team’s investment professionals have 28 years of experience on average2.


A unique sourcing capability built over 20 years: over 60% of the deals generated by the team have been proprietary/repeat transactions3, leveraging on existing private equity and private debt portfolios and long-standing relationships with management teams and sponsors. Proprietary dealflow is key when it comes to negotiating attractive financial and legal terms.


Proven ramp-up capabilities: an abundant proprietary dealflow has enabled CAPZA to arrange €5.0bn of financing in 5 years4 while remaining very selective thanks to a meticulous investment process.


A robust track record: the team benefits from a strong track record with regular returns and a low annualized loss rate thanks to a cycle tested portfolio construction.



1 Of which assets managed by a third party and advised by Artemid SAS, valuations as of 12/31/2023

2 Data as of 01/31/2024 (investment professionals include, Christophe Karvelis-Senn, Guillaume de Jongh, Jean-Marc Fiamma, José Tomas Moliner, Stefano Zavattaro, Bertram Schütz, Oriane Mizrahi).

3 Based on Capzanine 4 Private Debt,CAPZA 5 Private Debt and CAPZA 6 Private Debt portfolio

4 As of 12/31/2023


2018 to 2020
Best Private Lender - Small & Mid Cap segment
Private Equity Magazine

Key figures


transactions since 2004

As of 12/31/2024

investment professionals

As of 01/31/2024

arranged in 5 years

As of 12/31/2024
  • 15
    Dec’ 2023
    CAPZA supports EFOR in its external growth strategy
    CAPZA supports EFOR as the Group joins forces with Nodarius
    Read more
  • 26
    Apr’ 2023
    Charles Devevey joins CAPZA's Private Debt team
    Charles Devevey joins CAPZA as Principal on the Private Debt expertise in Paris.
    Read more
  • 6
    Apr’ 2023
    CAPZA supports Ortivity’s next stage of growth
    CAPZA has arranged a Unitranche financing to support Ortivity’s buy-and-build strategy
    Read more
  • 9
    Mar’ 2023
    CAPZA brings its direct lending capabilities to the Italian Market
    CAPZA is now authorized to carry out lending activity in Italy through Artemid and Private Debt range of funds.
    Read more