Three Hill Capital Partners, the new London-based debt and equity investment platform launched in November last year, has closed its debut fund at a hard cap of €100 million, the firm announced yesterday (2 October). The fund will invest in subordinated debt and senior equity in Europe and will target mid-market companies led by institutional management teams and entrepreneurs.
The firm isn’t planning to focus specific sectors. Instead it will look for companies that need flexible capital as an alternative to the traditional bank debt and private equity financing models. The fund will target investments where the equity investment will be in the range of €15 million to €50 million.
The fund has already committed about €30 million of capital to two mid-size growth companies: One is Dedalus, a supplier of healthcare specialty software with a leading position in Italy and a presence in China, South Africa and Eastern Europe. The other is Byron, a growing burger chain in the UK.
The fund raising has been conducted across Europe targeting wealthy individuals, family offices and institutional investors.
“I’m pleased to announce, after less than a year from the founding of THCP, the closing of the fund at the top range of our fundraising target,” Mauro Moretti, founder of Three Hills Capital Partners, said in a statement.
“Now we are more and more committed to looking at new deals to present to our investors. We are confident that in the next couple of months we will be able to announce the third deal for the fund,” he added.
Three Hills Capital was founded last year by Moretti, a former partner at London-based private equity firm Hutton Collins which he joined in 2008 from BC Partners, another British private equity firm. The team includes Partners Leks de Boer, a former member of the investment team of Hutton Collins, and Michele Prencipe, who also previously worked at Hutton Collins.