Black Toro raises €150m for third fund

The fund was launched in 2018 with a €350m target and held a first close last July on €100m.

Black Toro told Unquote that the LP base is composed of US and European LPs, primarily funds-of-funds, foundations, endowments, sovereign wealth funds and public institutions. In addition to several new investors, numerous LPs from the prior fund re-upped to this new vehicle.

The fund will make investments in Spanish mid-sized companies with the opportunity to expand internationally, and will deploy tickets of between €20-50m.

The GP is currently investing via its second vehicle, Black Toro Capital Fund II, which held a final close on €235m in February 2017 and is more than 80% deployed.

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