STAR Capital Partners Raises €800M For Third Fund

Jul 14 2017 | 9:00pm ET

London-based fund manager STAR Capital Partners has raised €800 million in capital commitments for its third buyout fund, hitting the new pool’s hard cap. 

The new fund, named STAR Strategic Assets III, received strong support from a diversified range of global investors in Europe, North America and Asia, the company said. It continues STAR’s strategy of investing into European strategic assets that provide an essential service to customers or users, and consistently generate stable, long term returns. The fund has completed two investments to date.

Aerius Associates acted as placement adviser and Morrison Foerster provided legal advice, the statement continued.

The company raised €581 million in 2002 for its first fund, which made eight investments and is fully realized, and €800 million in 2006 for its second, which made seven investments and is now also fully realized. 

STAR generally looks for businesses or assets protected by a strong strategic position, located in Western Europe with enterprise value between €50 million and €1 billion. Typical transactions include complex carve-outs of assets or divisions from larger corporates often in partnership with vendors, the company said. It has developed experience in a wide range of sectors including healthcare and public services, specialist industrial, structured finance, TMT, transport and utilities. 

Established in 1999 and fully owned by its partners, STAR is a specialist investor in strategic asset-based businesses in Western Europe. Since inception, STAR has invested circa €1 billion of equity across 18 businesses, representing over 70 acquisitions including add-ons. 

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