ITALY - Advanced Capital launches real estate fund

It forecasts its first closing by the spring of 2009.

The fund will cover a wide geographical area and will take advantage of distressed opportunities in mature markets.

AC III, the firm’s third private equity fund-of-funds with a target of EUR 300m has raised EUR 200m; its closing is also expected next spring. Among the investors to the two previous funds are Fideuram, Aletti, Credit Suisse, various banking foundations the Benetton, Berlusconi, Seragnoli and Tabacchi families. AC I netted a 2.9x multiple on investments.

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• Topics
• Real estate
• Southern Europe