AnaCap Financial Partners has completed a final close on its third credit fund after raising almost €600 million in capital commitments, according to Real Estate Capital’s sister title, Private Debt Investor.
The firm’s Credit Opportunities Fund III will target investments across the European performing and semi-performing credit space, including mortgage debt. The fund will also target investments in the European consumer, small and medium-sized enterprises (SME) spaces.
AnaCap’s latest fund surpassed its fundraising efforts for its previous vehicle by around 30 percent. In 2012, AnaCap Credit Opportunities Fund II closed on £350 million (€445 million; $505 million).
Amber Hilkene, partner at AnaCap, said: “The fund will benefit from our extensive experience and deep internal expertise from investing in not only financial assets but also regulated lending and servicing companies, as well as the enormous network of relationships we have built over the past decade throughout the European financial services sector.”
In May, a US Securities and Exchange filing revealed that the firm had raised $544 million from 28 investors. AnaCap directors Gavin Davies, Jonathan Bridel and Nigel Ward were named on the filing.
Investors to the fund include the District of Columbia Retirement Board ($30 million), the San Francisco Employees Retirement System ($45.9 million) and Texas County and District Retirement System ($45 million), according to PDI Research & Analytics.
Law firm Gibson, Dunn & Crutcher served as legal advisors to the firm on fundraising. AnaCap declined to comment further on its fundraising efforts.
In March, PDI reported that the firm purchased two Italian portfolios valued at €2 billion for an undisclosed amount. The portfolios comprised of secured and unsecured SME loans and were previously owned by GE Capital Real Estate and the Royal Bank of Scotland.
AnaCap Financial Partners is a specialist private equity that operates more than €3 billion of assets across both its private equity and credit opportunities platforms.