Three Hills raises €540m

The London-based investment firm has achieved the final close of its third investment fund.

Three Hills Capital Partners has closed its Three Hills Capital Solutions III (Fund III) at €540 million, surpassing its initial fundraising target of €400 million.

Fund III, which will invest 80 percent of its capital into debt and 20 percent into minority equity stakes, pursues 10 to 12 investments and targets a 15 percent net IRR.

The fund is the first vehicle open to institutional investors and around 60 percent of the capital raised came from new investors in North America and Europe.