Altamar VIII holds final close on €500m hard-cap

Amedeo Goria
29 July 2016

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Spanish funds-of-funds manager Altamar Capital Partners has held a final close on the €500m hard-cap for its eight vehicle, Altamar Global Private Equity Program VIII (Altamar VIII).

The vehicle launched in April 2014 with a €400m target and held its first close on €100m in August.

Concurrently, the GP recently launched a new fund dedicated to secondaries, Altamar Global Secondaries IX FCR, which has a €500m target. Altamar also hired Harvey Lambert as head of secondaries to support its New York-based team.

Investors
Investors in Altamar's previous vehicles include pension funds, insurance companies and family offices across Spain and Latin America, according to unquote" data.

Investments
Altamar VIII primarily targets mid-cap opportunities across Europe, the US and emerging markets. The GP intends to earmark up to 30% of the vehicle for co-investments and secondaries opportunities.

To date, the fund has already made several investments, mainly in the US and Europe, according to press reports. Transactions are believed to include commitments to special-situations funds, as well as secondaries and co-investments.

People
Altamar Capital Partners - Claudio Aguirre Pemán (chair).