AnaCap Financial Partners (“AnaCap”) has reached a final closing on its AnaCap Credit Opportunities Fund II L.P. (“the Fund”), successfully hitting its £350 million hard cap. The Fund was oversubscribed after just six months despite a current average private equity fundraising period of more than 20 months.
The Fund expects to build upon AnaCap’s track record as a financial services specialist, targeting performing, semi-performing or non-performing consumer and SME debt across Europe, including loans, leases, securities or other obligations requiring granular analysis and active asset management.
It will seek to capitalise on the rapidly evolving market opportunity in this space, driven by the need for financial institutions to de-lever after years of over-expansion. The European financial and business services market represents almost 30% of European GDP, with bank assets totalling more than 200% of GDP. The pace of financial asset sales is further magnified by weak underlying economic activity and high unemployment as well as significant changes to the banking regulatory framework and the dramatic contraction of wholesale and securitisation funding.
AnaCap is Europe’s largest specialist private equity investor in the financial services sector. Based in London and investing across Europe, AnaCap advises funds with €1.7 billion under management across two Private Equity and two Credit Opportunities vehicles as well as co-invest.
