{"id":52894,"date":"2016-06-07T01:29:52","date_gmt":"2016-06-06T23:29:52","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/anacap-hits-hard-cap-on-third-credit-fund-with-e595-million\/"},"modified":"2016-06-07T01:29:52","modified_gmt":"2016-06-06T23:29:52","slug":"anacap-hits-hard-cap-on-third-credit-fund-with-e595-million","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/anacap-hits-hard-cap-on-third-credit-fund-with-e595-million\/","title":{"rendered":"AnaCap hits hard cap on third Credit fund with \u20ac595 million"},"content":{"rendered":"<p>AnaCap\tFinancial\tPartners\t(\u201c<em>AnaCap<\/em>\u201d)\tis\tpleased\tto\tannounce\tit\thas\treached\ta\tfinal<br \/>\nclose on its\tthird\tCredit\tOpportunities\t fund,\traising\ta\ttotal\tof\t\u20ac595\tmillion.\tAnaCap<br \/>\nCredit Opportunities\tIII, L.P.\t(\u201cthe\tFund\u201d) was\toversubscribed\tat\tits\tnewly\tincreased<br \/>\nhard\tcap,\t following\textremely\tstrong\tinterest\t from\texisting\tand\tnew\tinvestors,\tand<br \/>\nis approximately\t30%\tlarger\tthan\tits\tpredecessor\tvehicle.\t<\/p>\n<p><quote>Combined\twith\t the\t firm\u2019s\tlatest\tprivate\tequity\t fund,\tAnaCap\tFinancial\tPartners\t III,<br \/>\nL.P.,\tAnaCap\thas\tnow\tclosed\tfunds\ttotalling\tnearly\t\u20ac1.5\tbillion\tin\t2016.<\/quote><\/p>\n<p>The\tFund\twill\ttarget\tperforming,\tsemi-performing\tor\tnon-performing\tcredit\tassets<br \/>\ncomprising\t primarily\t consumer,\t SME and\t mortgage debt\t across Europe,\t including<br \/>\nloans,\t leases,\t securities\t or\t other\t obligations\t that\t require granular\t analysis for<br \/>\npricing and\t active\t asset\t management. It\t follows\t the\t successful\t deployment\t of<br \/>\nAnaCap\tCredit Opportunities\tII, L.P.,\twhich\twas\talso\toversubscribed\tand\treached its<br \/>\nhard\tcap,\tclosing\ton\t\u00a3350\tmillion\tin\t2012.\t<\/p>\n<p>AnaCap\twill\tcontinue\tto\tpursue\tits\texisting\tcredit\tstrategy,\twhich\tseeks\tto\tinvest\tin<br \/>\nnon-core\t assets\t disposed\t of\t by\t financial institutions\t still\t undergoing\t significant<br \/>\nrestructuring\tand\ttransitioning\tto\tan\tera\twhich\twill\trequire\tmore\tdynamic\tongoing<br \/>\nbalance\t sheet\t management\t and\t where\t many\t legacy\t products\t will\t no\t longer\t be<br \/>\nprofitable\tgoing\tforward. Over\tthe\tpast\t12\tmonths\talone,\tthe\tfirm\thas\tacquired\tdebt<br \/>\nwith\ta\tface\tvalue\tof\tmore\tthan\t\u20ac3.6\tbillion\tacross\tEurope.\t<\/p>\n<p>Amber\tHilkene,\tPartner\tat\tAnaCap,\tcommented:<br \/>\n\u201c<em>We\t are\t pleased\t to\t have\t completed such\t a successful\t fundraising\t for\t our\t latest<br \/>\nCredit\t Opportunities\t vehicle.\t We\t are\t fortunate\t to\t have\t received\t extremely\t strong<br \/>\nsupport\t from\tboth\texisting\tand\tnew\tinvestors, which\tunderlines\t their\tbelief\tin\tour<br \/>\ninvestment\t strategy\t and\t in\t our\t continuing development\t as\t Europe\u2019s\t leading<br \/>\nfinancial\tservices\tspecialist\tinvestor<\/em>\u201d<\/p>\n<p>\u201c<em>The\t Fund\t will\t benefit\t from\t our\t extensive\t experience\t and\t deep\tinternal\t expertise<br \/>\nfrom\tinvesting\tin not\tonly\t financial\tassets\tbut\talso regulated\tlending\tand servicing<br \/>\ncompanies,\tas\twell\tas\tthe\tenormous\tnetwork\tof\trelationships\twe\thave\tbuilt\tover\tthe<br \/>\npast\tdecade\tthroughout\tthe\tEuropean financial\tservices\tsector.<\/em>\u201d<\/p>\n<p>The\tFund\tused\tGibson,\tDunn\t&#038;\tCrutcher\tas\tlegal advisors.\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AnaCap\tCredit\tOpportunities\tIII\twas\tincreased\tfrom\tan\tinitial\tcapacity\tof\t\u20ac550\tmillion to\tcater\tfor\tadditional\tdemand, although\tremained\toversubscribed<\/p>\n","protected":false},"author":20,"featured_media":52892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1687,1655,1651,1437,2007,1662,1702],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/52894"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=52894"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/52894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/52892"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=52894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=52894"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=52894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}