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Three Hills Capital Partners closes second fund at EUR200m

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Three Hills Capital Partners (THCP) has held the final closing of its second fund with total committed assets of around EUR200 million, in excess of the initial target of EUR150 million.

The new fund, named Three Hills Decalia after the fundraising partnership with Geneva-based asset manager Decalia, has completed its fundraising less than two years after the final closing of the first fund, which is now fully invested. As a result, THCP holds circa EUR400 million of assets under management.
The strategy of THCP is currently based on providing subordinated private debt and senior equity solutions across European mid-market companies, led by established management teams and entrepreneurs. THCP’s core strategy is to work directly with successful entrepreneurs (sponsor-less deals) to finance their need for capital for transformational events.
Since its founding, THCP has developed its expertise in ‘Buy & Build’ projects and minority buyout financings. The fund will target investments with tickets in the range of EUR15 million to EUR50 million and will also work on deals of up to EUR100 million with primary longstanding co-investors aligned with THCP’s approach.
The new fund has already committed approximately EUR75 million of capital to four companies: Genius Sports Group, a UK provider of sophisticated data-driven software aimed at capturing, distributing and commercialising official sports data; Aquafil, a specialist Nylon 6 manufacturer for textile floorings and the apparel and sports industries; Tomorrow Ltd, a fashion distribution platform; and Building Energy, a global renewable Independent Power Producer (IPP), with an integrated business model, a projects’ pipeline of 2.200MW and present in four continents.

The fund has been raised among European institutional investors, family offices and high-net-worth individuals. 

Mauro Moretti (pictured), founder and managing partner of Three Hills Capital Partners, says: “After less than two years of Fund I closing, we are proud to announce the closing of Fund II, Three Hills Decalia, largely above our fundraising target. The collaboration with Swiss asset manager Decalia as advisor of the fund has been very productive, and once again highlights Three Hills’ innovative approach, this time applied to the fundraising exercise, allowing us to overcome our targets. The fund is already more than 40 per cent invested and we will now focus on selecting the best opportunities from our extensive pipeline, in order to be fully invested within the next 18 months.
“THCP continues to focus on its distinctive investment approach, looking for special opportunities in which companies are looking at new variables and flexible capital solutions as an alternative to traditional debt and equity financing. In the coming years we will also focus on identifying new niches, where investment strategies can be uncorrelated from the volatility of the financial market and, at the same time, are able to generate downside protected returns with a cash yield component for our investors.” 

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