17Capital has successfully closed its fourth fund at the extended hard cap of € 1.2bn. The Fund was raised in just 6 months and exceeded the targeted fund size of € 800m.
Investors include international institutions – pension funds, insurance companies, university endowments and large family offices, from Europe and North America. 17Capital has received strong support from existing investors, with over 90% re-up from previous funds, as well as a number of new investors.
Managing Partner Pierre-Antoine de Selancy said: “We are delighted with the demand for 17Capital Fund 4. We believe our offer is distinctive, with possibly the most dynamic investment and exit pace of the private equity industry. We are thankful to both existing and new investors for their strong support, and look forward to continuing to work with them over the coming years.”
This new fund comes just over two years after the successful final closing of 17Capital Fund 3 (December 2014 – € 500m), which has invested in a number of highly attractive European and US private equity portfolios. 17Capital Fund 4 will pursue the investment strategy of 17 Capital’s predecessor funds by providing financing to private equity investors.
Managing Partner Augustin Duhamel added: “We continue to see strong demand for our capital, as improving the capital structure of investment vehicles is a constant focus for most investors. Our first 3 funds were deployed substantially faster than their initial investment period, Fund 4 follows the same trend and is already ahead of its target investment pace.”
17Capital is a leading, global, private equity specialist with one focus: financing successful investors in private equity.
The firm provides capital to investors in the form of preferred equity or unsecured loans, with a view to helping them build their portfolio or generate liquidity for their shareholders. It has pioneered its market, and with over 30 transactions executed and close to € 1 bn invested in the last 3 years, has arguably built a strong leadership position.
17Capital was formed in London in 2008 and opened an office in New York in 2016. It has raised € 2bn since inception in four successive funds in 2010, 2012, 2014 and 2017. The team of 23 professionals focuses on investment opportunities in Europe and North America from € 10m and up to € 500m.
Pierre-Antoine de Selancy, Managing Partner, +44 20 7493 2462, email@example.com
Augustin Duhamel, Managing Partner, +44 20 7493 2462, firstname.lastname@example.org