London-based AnaCap Financial Partners has raised €575m for its second fund.
AnaCap Financial Partners II will target financial services companies across Europe, continuing the existing strategy of the firm’s first fund.
The latest fund is nearly twice the size of AnaCap’s previous fund which closed on €300m in 2006. With the closing of the AFPII the private equity firm now has €920m in assets under management.
The average commitment to AnaCap’s second fund is €25m. Investors included, Goldman Sachs, Alliannz, Honeywell, Morgan Stanley Alternative Investment Partners, State of New Jersey and Adam Street Partners.
Director of AnaCap, Amber Hilkene said: “The closing of our second fund illustrates the interest of our investors in this sector. It is a great result particularly given the general difficulty for private equity to raise funds in the market.”
AnaCap funds recently completed the first acquisition of a UK deposit-taking bank by private equity investment funds.
Law firm Ashurst advised AnaCap on the funding AnaCap Financial Services II.