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Private debt

The SP EuroCréances Private Debt fund range targets professional investors wishing to invest in senior grade credit risk to diversify their asset allocation and limit exposure to market volatility. With an average maturity of about six years, these are closed-end funds that invest primarily in French and European small- and medium-sized enterprises (SMEs).

Schelcher Prince Gestion has specialist expertise in private debt and has developed:

  • a range of SP EuroCréances funds aimed at financing the real economy and small- and medium-sized enterprises
  • proactive identification of candidate companies within the SME ecosystem
  • the ability to implement Senior Debt interest-only financing solutions that can adapt to each company’s objectives and particularities 
  • an investment process that integrates ESG criteria and has a 5-year track record
  • coherent and consistent credit risk analysis
  • a team of eight committed and experienced industry professionals


Notre approche : Expected Loss

With this range of funds, Schelcher Prince Gestion is primarily seeking to provide investors with regular long-term yield in exchange for moderate exposure to credit risk.

The expected loss method of measuring credit risk is a key element in the team’s investment approach. Schelcher Prince Gestion was the first French asset manager to apply the expected loss model, which originated from EU banking regulations on asset management.

Using this model, the investment committee can take a systematic approach to measuring the return on risk associated with each potential investment and make coherent, finely tuned decisions.


A team of eight highly experienced professionals manages the investment process from start to end: sourcing, analysis, structuring, legal framework, closing and borrower monitoring. The only aspect undertaken by a third party is ESG, which we outsource to EthiFinance, a recognised expert in SMEs and unlisted companies.

Monitoring our target investment universe involves building and maintaining close ties with the SME ecosystem. This is exactly what our team does so well. 

Each member adds value to the team via their individual experience. Their collective expertise includes structured finance in commercial banking, private equity, structured credit in investment banking, loan officer responsibilities and banking portfolio monitoring.

These diverse backgrounds afford us a multichannel approach to sourcing while enabling us to critically assess all aspects of potential investments and implement effective borrower monitoring. The team can also produce bespoke reports that meet each investor’s requirements.

Avec 3 fonds sous gestion dont un en cours de levée et 2 mandats dont un mandat public pour le Fonds de Réserve pour les Retraites, les actifs sous gestion ont dépassé le milliard d’euros en 2018. Avec plus de 100 PME/ETI financées sur les 5 dernières années, Schelcher Prince Gestion a su démontrer son savoir-faire sur cette classe d'actifs. Les millésimes 2014 et 2016 offrent des rendements stables compris entre 4% et 4,5%.

En proposant une ressource in Fine, les fonds SP EuroCréances financent l’économie réelle en accompagnant les entreprises et leurs dirigeants, en complément des financements traditionnels bancaires. Ces financements In fine apportent une ressource longue permettant aux entreprises d'allouer une large part de leurs cash-flows opérationnels au développement.


Caractéristiques du fonds SP EuroCréances 2016

Caractéristiques Univers-d'investissement VF

Nous avons mis au cœur de notre approche la mesure du risque de crédit en appliquant la méthode de la perte attendue (Expected Loss).

L'approche Expected Loss :


Process-d'investissement VF


This asset class demands in-depth expertise to analyse, structure and implement tailored solutions, along with a sound investment process in which long-term clients can trust. Above all, it responds to the needs of the real economy, financing local companies and regional projects.

Isabelle Bourrier
Responsable Dette non cotée