Private equity house AnaCap Financial Partners has carved out its credit business into a new investment house called Veld Capital.
Veld, which will be run by the same team as under AnaCap, will advise the firm’s existing credit funds and raise additional funds.
AnaCap launched its credit business in 2009 in the wake of the global financial crisis, and has deployed more than €2bn into credit-oriented opportunities, initially targeting non-core assets from financial institutions across Europe.
It has since expanded out into consumer, SME and corporate debt as well as direct real estate.
AnaCap hit a €1bn hard cap close for its fourth Credit Opportunities fund in 2019.
The firm’s private equity operations target financial services deals, as well as tech and business services opportunities.
Joe Giannamore, CEO and CIO at AnaCap, said, “AnaCap’s strong track record as a consistent top quartile credit investor prompted multiple approaches from both peers and other asset managers globally.
“Under independent ownership and a seasoned team operationally, the business remains well positioned to capitalise on the expanding range of opportunities across Europe.”
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