Idinvest Partners, the France-based private equity group that spun out of German insurer Allianz, is expected to close its third mezzanine fund on €300 million by the end of the year as it looks to expand in Europe, according to a person familiar with the matter.

The mezzanine fundraising effort comes amid the recent final closing on its second senior loan fund, which the firm announced last week. Idinvest Dette Senior II lends to French and other European small and medium-sized enterprises backed by private equity firms.