Latest AnaCap credit fund reaches €600m – exclusive

The credit opportunities vehicle, which was launched in the summer, is aiming for around €750m in total.

AnaCap Financial Partners, the London-based private equity and private credit manager, has raised around €600 million at the first close of its latest credit fund, Credit Opportunities Fund IV, according to market sources. The firm itself declined to comment.

Fundraising was launched this summer for the vehicle, which is aiming to collect around €750 million at final close.

It was not immediately apparent whether there would be any further interim closes, or what timeframe is anticipated for the final close.

Also unclear was the identity of any investors in the fund. The firm’s previous vehicle in the series, the €595 million Fund III – which closed in the summer of 2016 – included commitments from the likes of District of Columbia Retirement Board, the San Francisco Employees Retirement System and the Texas County and District Retirement System.

AnaCap’s credit opportunities strategy targets performing and semi-performing credit assets in the European consumer, small and medium-sized enterprise (SME) and mortgage debt markets. In recent years, AnaCap has been prominent in the acquisition of loan portfolios from large financial organisations including Barclays, GE, RBS and UniCredit.

In total, AnaCap – whose name is an abbreviation of “Analytical Capital” – has now raised around €4.4 billion in capital since it was formed in 2005. The firm’s private equity strategy targets European financial services businesses.