Weil advised AshGrove Capital (“AshGrove” or “the Firm”), an independent pan-European specialty lender, on the final close of AshGrove Specialty Lending Fund II at the hard cap of €650 million, surpassing its target of €500 million. The Firm said AshGrove Specialty Lending Fund II achieved a 107% re-up rate among existing limited partners (LPs) and secured over €325m in new commitments, with over 40% of capital in the fund coming from US-based investors.

This milestone reflects a more than 100% increase in fund size compared to AshGrove's €300 million inaugural fund, making it the only independent European performing private credit fund to achieve such growth in recent years, according to Preqin data.

AshGrove Specialty Lending Fund II provides tailored credit solutions to small and medium sized European companies in B2B software and services.

The Weil team was led by Private Funds partner James Bromley and included Tax partners Aron Joy and Andrew Morris along with Private Funds Regulatory partner Marc Schubert; Tax counsel Daniella Abel and Private Funds counsel Antonia Mullinger; Private Funds associates Kate Bystryk and Ornella Bergonzi Martinez.