Star Capital Partners raises new EUR800 million fund
Star Capital Partners (Star) has held the final close of Star Strategic Assets III (Star III) at EUR800 million. The Fund closed at its hard cap, following strong support from a diversified range of global investors in Europe, North America and Asia.
Star III is the latest vehicle raised by Star to continue investing in European strategic assets that provide an essential service to customers or users, and consistently generate stable, long term returns. The Fund is already actively deploying capital and has completed two investments to date.
Synergy LMS is a carve-out of the linen management services business from a large US corporate. It provides outsourced services to hospitals and other healthcare providers throughout the UK.
Globalways is a Stuttgart based IT services and infrastructure business providing data storage, distribution and access requirements to customers across regional Germany.
Tony Mallin, Executive Chairman, says: “The success of the fundraising is testament to the track record and team that Star has built over the years, as well as the compelling opportunity set within our target market.”
Paul Gough and Uniti Bhalla, Managing Partners, say: “We would like to thank our investors for their strong support and are confident that our focus on strategic assets will continue to provide them with excellent risk-adjusted returns. We look forward to deploying the remainder of the Fund's capital across a range of attractive investments, and employing Star’s operational management approach to bring about transformational change to our portfolio companies.”
Aerius Associates acted as placement adviser and Morrison Foerster provided legal advice.