Debevoise & Plimpton LLP has advised Park Square Capital (“Park Square”), one of the world’s most established credit investment firms, as it announced the final closing of its fourth subordinated debt fund, resulting in total investable capital of €2.2 billion.

Park Square Capital Partners IV and related vehicles raised €1.8bn of equity commitments, exceeding its target of €1.5bn. Including committed leverage, the strategy’s total investable capital is €2.2bn. This represents an increase of 48% over its predecessor fund, PSCP III, which had €1.5bn of investable capital.

For full details, please see Park Square’s press release.

The Debevoise team advising Park Square was led by London partner Geoffrey Kittredge and international counsel John Anderson, and included associates Nicholas Kagan, Rachel Stables and Louis Liu. Tax advice was provided by partner Cécile Beurrier and associate Veronika Polakova. Finance advice was provided by partners Pierre Maugüé and Thomas Smith, and associate Anna Moore.