Three Hills closes debut fund on €100m

The newcomer has already committed €30m of capital to two companies

Newly-formed investment platform Three Hills Capital Partners has closed its debut fund on its hard-cap of €100 million, less than a year after the firm was founded.

THCP was launched in November 2013 by Mauro Moretti, a former partner at Hutton Collins, who he joined from BC Partners in 2008. The firm’s partners include former Hutton Collins employees Leks de Boer and Michele Prencipe.

Fundraising targeted family offices, institutional investors and high net worth individuals across Europe, according to a statement from THCP. The fund will be seeking to write equity cheques of between €15 million and €50 million, providing subordinated private debt and senior equity to mid-market companies led by institutional management teams and entrepreneurs.

THCP was not available to comment on fundraising at press time.

According to THCP, the firm will not be investing in specific sectors, but will “focus on its distinctive investment approach” by seeking opportunities where target companies are looking for “new variable and flexible capital”, as opposed to the traditional debt and equity financing models.

The fund has already committed around €30 million of capital to two companies: Dedalus, a supplier of healthcare speciality software solutions in Italy, China, South Africa and Eastern Europe; and British burger chain Byron.

“We are more and more committed to looking at new deals to present to our investors,” Moretti said. “We are confident that in the next couple of months we will be able to announce the third deal for the fund.”