For Investors
We are able to generate attractive returns from senior secured credit in an underserved market
Large, growing, and underserved market
Underpenetrated, sizable, and fast-growing growth lending market in Europe. The underserved market allows GCP to negotiate attractive pricing, terms, and protections.
Strong sourcing networks
GCP has an extensive and diverse sourcing network of European growth companies. Most of the deals are sourced actively and directly through proprietary relationships and do not come through traditional direct-lending brokers or bank intermediaries.
Attractive risk/return
Majority cash coupons with high yield premium to direct lending/public credit at similar or lower risk profiles. There is additional upside (through equity warrants, prepayment fees, exit fees) and strong downside protection (through credit selection and structuring).
Fundamental credit underwriting
GCP conducts rigorous financial, commercial, and legal due diligence to build a robust credit case, enabled by superior information access from direct contact with management. Ticket sizes are large enough to justify commissioning a full suite of external diligence providers to supplement GCP’s analysis.
Embedded focus on principal protection
GCP has a full set of contractual downside and credit protections in all its deals. We also negotiate a single point of enforcement alongside cash-flow and asset-linked maintenance covenants. GCP only invests when there is a fundamental case for principal protection in a severe downside scenario.
Best in Class Team
The GCP team comprises experienced investors with a fundamental underwriting and sophisticated deal structuring toolkit honed in Private Credit, Private Equity and Special Situations with a successful track record of sourcing and executing Growth Debt and Performing Credit deals across Europe.
Clear Exit Path
GCP is not reliant on a liquidity event or a future venture equity round to exit our position. The capital provided by GCP funds a path for borrowers to reach a leverage profile suitable for direct lenders, which is how GCP exits our positions (via refinancing by direct lenders). Our equity positions (via penny warrants) also have cash-settlement options at exit.
Track Record and LP Base
GCP has distributed >€100m back to investors since inception and have fully realized deals at >20% blended IRR. We have a sophisticated base of LPs across North America, Europe, Middle East, and Asia, comprising both institutional investors and large family offices.
Significant co-investment opportunity
With ticket sizes of €20m to €100m+, GCP has substantial co-investment opportunities that we offer to LPs.
Fundamental Credit Underwriting
Embedded Focus on Principal Protection
High-Profile Investors
Fundamental Credit Underwriting
Rigorous Data-driven Approach To Investing In Growth Companies Applying In-depth Underwriting Standards.
Embedded Focus on Principal Protection
GCP has the underwriting skills and legal expertise to provide flexible and bespoke deal structuring with tailored covenants enhancing downside protection.
High-Profile Investors
GCP is backed by funds of funds, family offices, foundations, HNWIs as well as institutional multi-strategy asset managers (across Europe and the U.S.)