AltAssets Magazine: German investment firm SwanCap has raised more than €300m for the final close of its latest oversubscribed co-investment fundraise.
The firm is one of the biggest players in the direct co-investment space in Europe, with more than €1bn invested in over 90 deals to date. SwanCap surpassed the €250m target for Fund IV despite the wider pressures of the COVID-19 environment, which has seen some private equity fundraises stumble and others postponed until markets stabilise.
Fund IV comes two years after SwanCap raised €433m for its predecessor Fund III amid strong interest from returning investors, beating its €400m goal.
That vehicle also included some primaries and secondary investment elements, AltAssets understands, while Fund IV is a pure co-investment vehicle.
SwanCap, which was established by UniCredit Bank and its former private equity team in 2013, has about €3bn in AUM according to its website. The Fund IV raise comes a month after SwanCap boosted its investment team by bringing in Ingo Stoff as Investment Director and Peter Götz as an Associate. Stoff previously headed the private equity fund business of a Munichbased single family office and also spent five years at Allianz Capital Partners working across fund commitments and coinvestments.
In June, the Luxembourg Private Equity Association re-elected SwanCap’s representative on the Board, Claus Mansfeldt, as President.