AlbaCore Capital wraps up third credit fund

• AlbaCore Partners III Fund’s limited partners include pension funds, sovereign wealth funds, endowments, insurance companies, consultants and family offices across Europe, North America, the Middle East and Asia
• Fund III will focus on private senior secured financings, dislocated secondary positions and private LBO financings
• AlbaCore was founded in 2016

London-based AlbaCore Capital Group has closed its third fund at about 2.2 billion euros.

The original target was 2 billion euros.

AlbaCore Partners III Fund’s limited partners include pension funds, sovereign wealth funds, endowments, insurance companies, consultants and family offices across Europe, North America, the Middle East, and Asia.

“I’m pleased with the level of commitments we’ve received for Fund III and the growth we’ve seen since our previous fund close. Despite a challenging environment, the number of investors that have continued their partnership with AlbaCore in Fund III is a testament to the priority we’ve placed on building long-term relationships,” said David Allen, a managing partner and chief investment officer of AlbaCore in a statement.

Fund III will focus on private senior secured financings, dislocated secondary positions and private LBO financings.

AlbaCore was founded in 2016. The firm has invested over 20 billion euros for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments.