Special situations investor Zetland Capital has closed its debut fund on €372m.
The fund's original target was €300m and the vehicle was oversubscribed, according to a statement. Domiciled in the Cayman Islands, the fund is structured as an exempted LP.
The fund was launched in April 2018. Keel Harbour Capital acted as placement agent for Zetland.
Zetland has a team of 14 investment professionals and €500m in assets under management.
LPs include endowments, foundations, pensions, insurance companies and family offices, primarily from across the Americas and Europe. The fund has at least 24 investors, according to an SEC filing.
Zetland focuses on distressed and special situations across Europe.
Zetland Capital – Ahmed Hamdani (founder, chief investment officer).
Company has generated €12m in revenues and has a 25% EBITDA margin
Exit to Jeniotik follows a five-year investment period and is the second exit from Capiton IV
Carve-out acquisition marks the Munich-based special situations investor's third deal of 2020
Company plans to use the fresh capital to boost its international growth, primarily in Spain and the UK