Ardian buys stake in SwanCap Partners from UniCredit

Munich-headquartered SwanCap specialises in private equity buyouts, offering an integrated approach to its predominantly institutional investors by combining primary investments, direct secondaries and direct co-investments.

The firm was established as an independent investment platform by senior professionals of the former UniCredit private equity unit HypoVereinsbank (HVB) in 2013.

At the time, Unicredit sold its private equity portfolio worth around $750m to the newly established Luxembourg-domiciled SwanCap Opportunities Fund I. In addition, the vehicle raised approximately $450m from several investors, including Carlyle's Alpinvest Partners, which committed a large portion of the capital.

Subsequently, SwanCap raised a second vehicle, SwanCap Opportunities Fund II, which held a final close on €600m in December 2014 and was backed by Ardian as one of its main investors. In March 2018, the firm held a final close on €433m for its third fund, SwanCap Opportunities Fund III, surpassing its €400m target. In July 2018, it launched SwanCap Opportunities Fund IV, a specialised co-investment vehicle with a €250-300m target.

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• Topics
• GPs
• DACH
• Southern Europe
• Ardian (formerly Axa PE)
• UniCredit
• Germany
• Italy