LDX SME III

LDX SME III is a closed-end ELTIF managed by October Factory, domiciled in France and operating under the AIF framework since 2017. The vehicle is structured under ELTIF 1.0, the pre-revision regime, which pairs the long-term investment rules of the label with a fixed-life, drawdown-and-distribution model rather than an open-ended dealing mechanism. It is denominated in EUR and marketed to professional investors on a domestic basis, so access is concentrated in its home market rather than passported across the region.

The strategy is direct lending within private debt, with capital deployed into directly originated loans held to maturity and repaid through amortisation and refinancing rather than through secondary trading. Because the fund is closed-end, there is no periodic redemption window: liquidity to investors comes from scheduled distributions over the fund's term, and commitments are called as transactions are sourced. Portfolio exposure by region is shown in , which sets the fund's reach against the broader sample of 494 vehicles tracked on this page.

Within that sample, LDX SME III is one of 148 private debt funds and one of 80 funds domiciled in France, narrowing to 19 vehicles that combine both characteristics. Current fund size is reported in and its direction over recent reporting periods in , both of which can be read against that peer set to place the vehicle by scale and stage in its lifecycle. Figures reflect data as of 31 Aug 2026.