STAR Capital Partners has beaten the fundraising target on its maiden fund, closing at €581 million. The fund had an original target of €500 million. Core investors in the fund include Royal Bank of Scotland Group, Santander Central Hispano and one Equity Partners, the private equity arm of Bank One.
“We are very pleased to have successfully closed our first fund at €581 million, significantly beating out initial targets,” said Tony Mallin, chief executive officer. “We are particularly pleased with our success as a first time fund in a difficult market, with current fundraising levels down substantially on 2000 levels.”
STAR Capital has put together a 13-strong team with significant expertise in investment and corporate, structured and project finance techniques to secure attractive assets for the fund. Mallin spent 20 years at Hambros Bank, most recently as vice chairman and managing director Stephen Wright has 14 years’ experience working on the financing of capital asset investments, latterly as a corporate finance director covering the transport and utility sectors at HSBC investment bank. Wil Liley, also on the management team was chairman and founder of the Asian Infrastructure group of funds. He has over 25 years’ infrastructure experience with Bechtel and Chase Manhattan Bank.
STAR will invest in the transportation, energy, oil and gas sectors and has already completed its first transaction in TotalFinaElf Connect and TotalFinaElf Pipelines from TotalFinaElf.