Three Hills Capital Partners announces final close of Three Hills Capital Solutions III at €540m
Three Hills Capital Partners have announced the final close of Three Hills Capital Solutions III at €540m - significantly in excess of the original target of €400m and close to three times higher than its prior fund. The fundraise for Fund III marks the first time that THCP has offered access to institutional investors. THCP has previously been supported by a breadth of highly connected European families and high net worth individuals, who continue to be critical to THCP’s network driven sourcing strategy.
THCP, which currently manages three funds and assets of over €1 billion, seeks to partner with outstanding entrepreneurs and management teams of European mid-market businesses and support them in their next phase of growth. By providing tailored capital solutions, THCP helps its entrepreneurs to retain majority ownership stakes whilst ensuring sufficient controls and an attractive risk-adjusted return profile, which has historically delivered consistent double digit IRRs.
THCP’s third fund has attracted over half of its support from new institutional investors across Europe, North America and Australasia with the remaining capital coming from the ongoing support of its strategic investor base of highly connected families and high-net worth individuals.
The fast expanding THCP team of 21 people, including 10 members with blue-chip private equity and credit backgrounds, has remained extremely active on deals throughout 2018. After holding a first close in September 2018, Three Hills Capital Solutions III is already 20% invested across two successful fast-growing businesses; Recycling Lives, a UK-based provider of end-to-end recycling and waste management solutions; and ACT, a Netherlands based, leading global intermediary in niche energy commodities markets.
The final closing of Three Hills Capital Solutions III follows two exits completed by THCP over the last 18 months including the sale of Genius Sports Group to Apax and the IPO of Aquafil.