Toscafund Said To Launch New €300M Fund

Sep 13 2017 | 10:13pm ET

Martin Hughes’ multi-asset manager Toscafund Asset Management is prepping a new private equity fund that will focus on small- and mid-sized European companies in the financial and business services sectors.

The company is targeting €300 million for the new fund, which will be managed by former AnaCap Financial Partners executives Fabrizio Cesario and George Koulouris, according to a Reuters article.

The new launch is driven partly by a “secular” shift in the financial services industry, Toscafund added, which is creating opportunities for small and mid-cap companies. The fund will invest across the capital structure in debt and equity, and will reportedly aim for annual returns of 15% or more. 

Based in London, Toscafund was founded in 2000 by Hughes, formerly global head of financial research for the European unit of Julian Robertson’s Tiger Management Corporation. The firm manages $3 billion in assets deployed in a range of absolute return products, including an activist hedge fund strategy, on behalf of pension funds, international institutional funds, private family offices and high net worth individuals.

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