MezzVest, the mezzanine investment arm of Nordic private equity group Capvest, has raised €570m ($705m) for its second fund, making it one of Europe's biggest mezzanine providers.

It will now be able to raise twice the amount of debt on the back of the equity in the fund, giving it firepower of more than €1.5bn to invest in assets in western Europe over the next four to five years.