SwanCap Partners has raised €433 million to invest in primaries, direct secondaries and co-investments, according to a statement from the firm.
Private Equity Opportunities Fund III SCS, also known as SWAN III, was targeting €400 million for mid-market investments in Europe and North America.
The fund held a €405 million second close in September, sister publication Secondaries Investor reported.
KJustus Financial Services in Frankfurt and UniCredit Bank in Munich acted as placement agents, according to a US Securities and Exchange Commission filing announcing the close.
It is not clear how long the fund has been in the market, but its date of first sale is listed as 31 August 2016.
SWAN III has already made 20 deals across the three strategies, according to the statement, accounting for around 50 percent of its total.
The fund counts on commitments from large family offices, private and public pension plans, insurance companies, sovereign wealth funds and funds of funds, according to the statement.
SwanCap was founded in 2013 by senior members of UniCredit’s private equity unit and manages a significant portion of the Italian bank’s private equity portfolio, which it bought in early 2014.
It ranked 19th in Secondaries Investor‘s SI 30 last year – which lists the largest secondaries firms by capital raised over the past five years – having raised the equivalent of $2.2 billion since 1 January 2012.