Arcano launches €300m impact investing fund-of-funds

Alessia Argentieri
11 March 2020

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Arcano Asset Management, which is part of Arcano Partners, has launched Arcano Impact Private Equity Fund (AIPEF), a private equity fund-of-funds dedicated to impact investing, with a €300m target.

Arcano expects to hold a first close by June 2020. The fund targets a 12% IRR and a 1.8-2x return on capital.

Arcano is a private equity specialist established in 2003 and headquartered in Madrid. The firm manages Arcano Capital XII, a fund-of-funds launched at the end of 2018 with a €250m target and €300m hard-cap. Unquote understands that the vehicle has raised around €200m and will hold a final close by the summer.

In additon, Arcano has a venture arm that manages Arcano Ventures II, a VC fund launched in November 2019 and currently fundraising.

Investors
AIPEF expects to build an investor base composed of Spanish and international institutional investors and private banks.

Investments
AIPEF will invest in funds active in various sectors, promoting and contributing to the United Nation's Sustainable Development Goals, with a focus on pursuing environmental transition, solving environmental and social issues, and developing solutions to address global challenges, while generating private equity risk-adjusted returns.

The vehicle will target European and US mid-market funds, and will focus on primary deals, while considering opportunistic secondary investments. It will deploy around €10-20m per deal and expects to target a total of 12-15 funds.

People
Arcano Asset Management – José Luis del Río (CEO); Ricardo Miró-Quesada (managing director, chief investment officer private equity).