AnaCap Financial Partners, a London-based private equity firm that specialises in the financial services sector, has successfully closed its second fund, AnaCap Financial Partners II, r
AnaCap Financial Partners, a London-based private equity firm that specialises in the financial services sector, has successfully closed its second fund, AnaCap Financial Partners II, raising EUR575m from investors.
The new fund is almost twice the size of AnaCap’s first fund which raised EUR300m in 2006. AnaCap now has in excess of EUR920m under management.
The AnaCap funds have together just completed the first ever acquisition of a UK deposit-taking bank by private equity investment funds. The FSA-approved acquisition of Ruffler Bank will see the AnaCap funds injecting a further GBP80m into the bank over the coming years as the bank undergoes a substantial but measured expansion of its operations.
Amber Hilkene, director at AnaCap, says: ‘The successful closing of our second fund illustrates the interest of our investors in this sector and their confidence in our team. It is a great result particularly given the general difficulty for private equity to raise funds in this market.
‘With the funds now secured, we are in an excellent position to capitalise on the wide range of opportunities resulting from the turbulence of the last two years.’
The new fund will continue the existing investment strategy of AnaCap’s first fund and focus on making control investments in mid-sized financial services companies across Europe.
AnaCap has attracted investment from investors including Goldman Sachs, Allianz, Honeywell, Morgan Stanley Alternative Investment Partners, State of New Jersey and Adams Street Partners. The average size of commitments to AnaCap’s second fund is EUR25m.
