17Capital gears up for Fund 6

17Capital declined to comment.

The firm made filings for its main GP vehicle, two feeder vehicles, and 17Capital Fund 6 USD SCSp and 17Capital Fund 6 EUR SCSp, earlier in October 2022.

The GP held a final close for 17Capital Fund 5 in June 2021 on USD 2.9bn, surpassing its EUR 1.8bn target and reaching a volume around a third larger than its predecessor fund. The strategy provided NAV-based preferred equity financing to GPs and LPs, allowing GPs to generate liquidity in their existing portfolio or to raise financing at management company level for purposes including GP commitments. The financing that the firm provides for LPs can be used to allow them to build up their portfolio using leverage.

17Capital Fund 6 will be the GP's first fresh fundraise since alternative asset manager Oaktree acquired a majority stake in the firm in March 2021, as reported. The partnership is expected to boost 17Capital's expansion to the US market, where the preferred equity and portfolio financing market is not as developed as in Europe, as reported.

In addition to its preferred equity strategy, 17Capital manages a credit strategy. The firm held a final close for its first dedicated credit vehicle in April 2022 on EUR 2.6bn, surpassing its EUR 1.5bn target. The vehicle was 50% deployed at the time of the final close.

17Capital managing partner Pierre-Antoine de Selancy had told Unquote in March 2022 that a number of market trends are driving the need for the firm's flexible financing solutions. These include the proliferation of new strategy launches by GPs, as well as generational change. De Selancy told Unquote that he "would not be surprised if [the firm] doubled [its] deployment in 2022 versus 2021", given the strong tailwinds.

Click here to read a GP Profile of 17Capital on unquote.com.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Debt
• UK / Ireland
• Benelux
• DACH
• France
• Nordics
• Southern Europe
• 17Capital
• United Kingdom