Wealthy families have helped Euromezzanine, France's largest independent provider of mezzanine finance, to beat its target and close its fourth fund at €427m ($500m).

Louis Vaillant, a partner at Euromezzanine, said: "The participation of family offices was the biggest difference between this fund and the previous funds. I think they have realised mezzanine will give them more stable returns than private equity and a good return relative to the risk."