Blackstone and Anacap set up joint venture for financial assets

The joint venture will target banking and insurance assets throughout Europe, taking advantage of the continent's economic crisis pushing many financial institutions to rethink their strategies.

The joint venture will reportedly invest €300m or more per transaction.

Anacap acquired the international division of Irish financial services company IFG Group for €84m in March 2012. Previous to that, it bought the Czech arm of Italy's Banco Populare, a deal which saw co-investments from Goldman Sachs Asset Management, Morgan Stanley Alternative Investment Partners, Alpha Associates and the State of New Jersey.

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• Topics
• Investments
• UK / Ireland
• Financials
• Blackstone Group
• AnaCap Financial Partners