UK firm Metric Capital Partners has closed its latest fund above its hard cap after only five months on the road.
MCP Private Capital Fund II has raised €465m, exceeding its €400m target and €450m hard cap, according to Dow Jones.
The fund was launched in February and held a first close on €340m in three months. LPs that have backed the fund include sovereign wealth funds, insurance companies, university endowments and other institutional investors based in the US, Asia and Europe.
In May this year AltAssets reported that Metric had secured nearly $250m for the vehicle.
Metric managing director John Sinik said, “Fund two will follow the same strategy as the first fund whereby we use our origination platform to identify good companies in need of bespoke capital solutions.
“Following our investments we provide strong support to the management teams through our board representation and active portfolio management approach. Management teams have found the Metric Capital financing to be helpful in support of growth initiatives as well as solving liquidity concerns.”
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