17Capital closes its first fund at €88 million
17Capital is pleased to announce the final closing of 17Capital Fund LP, its maiden fund, at €88 million ($113m). The fund was initially anchored by Idinvest Partners (previously AGF Private Equity) and Alpha Associates. It has received commitments from European and North American institutional investors, including Allianz Group, the Caisse des Depots et Consignations, CNP and BNP Paribas Private Equity.
17Capital is the first dedicated provider of financing for private equity portfolios. It provides limited partners, secondary buyers and fund managers with an alternative and flexible source of liquidity. 17Capital believes that offering mezzanine financing for private equity assets is relevant at a time where the secondary market reaches a new stage in its development and maturity.