Arcano closes secondaries fund on $700m

The vehicle, Arcano Secondary Fund I, will target secondary stakes in private equity funds and attracted commitments solely from foreign investors.

Arcano Capital, a division of Arcano Group, is a private equity fund-of-funds manager established in 2003 that specialises in global private equity management. It also provides advisory services to leading European institutions and high-net-worth family offices.

Arcano's previous fund, Arcano Global Opportunity II, closed in 2009 on €150m, 60% of which came from foreign investors.

Investors
Investors to the fund are international. Not a single Spanish investor has contributed to the vehicle.

Investments
The vehicle will target secondary stakes in private equity funds. The firm expects to see an increasing number of opportunities as banks and institutional investors seek to bolster capital reserves to meet regulatory requirements.

People
Ignacio Sarria is chief executive of Arcano Capital.

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