Three Hills Capital Partners has closed its Three Hills Capital Solutions III (Fund III) at €540 million, surpassing its initial fundraising target of €400 million.
Fund III, which will invest 80 percent of its capital into debt and 20 percent into minority equity stakes, pursues 10 to 12 investments and targets a 15 percent net IRR.
The fund is the first vehicle open to institutional investors and around 60 percent of the capital raised came from new investors in North America and Europe.
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