SwanCap purchased the portfolio of nine fund interests using its second fund, SwanCap Opportunities II SCS-SIF, which held a final close on €600 million in December, according to a statement from the firm.
About €300 million of the fund has been invested to date, a source with knowledge of the situation told Secondaries Investor. The fund makes primary and secondary investments across Europe and North America, according to the SwanCap’s website.
SwanCap’s debut fund closed on $1.2 billion in January 2014, with an anchor commitment from AlpInvest. The Carlyle-backed fund of funds manager led SwanCap’s spin out, although UniCredit has remained a passive shareholder in the new firm.
The first fund was used to acquire an initial portfolio from UniCredit, which included stakes in the Third and Fourth Cinven Funds and Lion Capital Fund II, UK regulatory filings disclosed.
Funds in the the most recent portfolio sale include:
|Fund name||Vintage year||Size|
|Apax Europe VI||2005||€4.31 billion|
|Apax Europe VII||2007||€11.2 billion|
|BC European Capital VII||2000||€4.27 billion|
|BC European Capital VIII||2005||€5.88 billion|
|BC European Capital IX||2010||€6.68 billion|
|BlueGem Capital Partners||2006||€200 million|
|Candover 2005||2005||€3.5 billion|
|Carlyle Europe Partners III||2006||€5.4 billion|
|Doughty Hanson & Co IV||2004||€1.5 billion|
|Doughty Hanson & Co V||2007||€3 billion|
|Magnum Capital||2007||€866 million|
Sources: UK regulatory filings, PEI’s Research and Analytics division
Principals from UniCredit and SwanCap did not return a request for comment by press time.