AnaCap fund may target CEE

AnaCap fund may target CEE

Published: January 23, 2012

New US$408mn fund to invest across Europe.

AnaCap Financial Partners will consider opportunities in emerging Europe when investing its Credit Opportunities Fund II, according to a source working with the company.

The London-based private equity firm secured commitments for the Europe-wide fund totalling £265mn (US$408mn), exceeding its £250mn target, in just five months. Investors include the State of New Jersey, US private equity firm Hamilton Lane and pension fund OPERS.

AnaCap will buy performing and non-performing consumer and SME debt from institutions looking to raise fresh funds due to contractions in the wholesale funding and securitisation markets.

Justin Sulger, head of the fund, said: “Financial institutions face a massive refinancing wall and increased capital requirements in the coming years, which combined with a deteriorating capital-raising environment makes significant deleveraging inevitable.”