Advanced Capital's third fund-of-funds hits EUR200m

Advanced Capital's AC III, the firm's third private equity fund-of-funds with a target of EUR300m, has raised EUR200m. Its final closing is expected next spring. The firm has also received the green light from Bankitalia for the launch of its EUR300m AC Real Estate fund, the first in Italy. It forecasts its first closing by the spring of 2009.

Among the investors to the two previous funds are Fideuram, Aletti, Credit Suisse, various banking foundations and the Benetton, Berlusconi, Seragnoli and Tabacchi families. AC I netted a 2.9x multiple on investments.

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