New player Three Hills closes fund on €100m

Three Hills was set up in November 2013 by former Hutton Collins partner Mauro Moretti. Before joining Hutton Collins in 2008, Moretti was at BC Partners. The fund was initially raised in partnership with Hutton Collins but now stands as a fully independent entity.

Other partners in the Three Hills team include Leks de Boer and Michele Prencipe, both also formerly of Hutton Collins.

Investors
The fund collected commitments from European investors including high-net-worth individuals, family offices and institutional investors.

Investments
The new vehicle will invest through both subordinated debt and senior equity in mid-market companies across Europe. It will write cheques of between €15-50m. It aims to provide liquidity to companies, rather than seeking full control.

The fund has already made two investments, committing €30m of capital; the first was Dedalus, a supplier of healthcare software solutions present in Italy, China, South Africa and eastern Europe, an investment completed under the Hutton Collins banner.

The fund's second investment was in Byron, the London-based burger restaurant chain. While cash from the new fund was used to finance the deal, it was completed under the name of Hutton Collins.

People
Mauro Moretti is founder of Three Hills.

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• Topics
• Buyout
• Hutton Collins