ALBACORE-CAPITAL-GROUP
European credit specialist AlbaCore Capital Group (“AlbaCore”) today announced the final close of their third flagship fund, AlbaCore Partners III Fund (“Fund III”). Building upon the progress of AlbaCore Partners I and II, Fund III closed with €2.2 billion in commitments, more than the firm’s €2 billion target. The re-up rate between AlbaCore Partners II and III was 96%. Including available leverage, AUM for Fund III totals approximately €2.4 billion.
“I’m pleased with the level of commitments we’ve received for Fund III and the growth we’ve seen since our previous fund close. Despite a challenging environment, the number of investors that have continued their partnership with AlbaCore in Fund III is a testament to the priority we’ve placed on building long-term relationships,” said David Allen, Managing Partner and Chief Investment Officer, AlbaCore.
Fund III will follow a similar strategy as its predecessors, with a goal of delivering capital growth for investors by leveraging strategies across the firm’s expertise, including private capital solutions, opportunistic credit, and dislocation.
AlbaCore has already invested ~€2.6 billion[1] of capital from Fund III, inclusive of recycling, as the firm has been actively taking advantage of attractive opportunities for low entry points and wide spreads. The breadth of opportunities in 2022 has allowed Fund III to utilize the full flexibility of the strategy. Investments made this year include private senior secured financings, dislocated secondary positions, private LBO financings, and most recently a focus on senior secured capital for companies seeking financing options while other traditional credit markets are largely shut. The firm anticipates recycling capital through the three-year investment period of Fund III as market conditions evolve.
Allen added “While the credit market will likely be difficult to navigate in the near-term, we’re confident that our investment team’s skills and experience leave us particularly well positioned to deliver capital growth. Our flexible mandate and proven track record across strategies allows us to be nimble and take advantage of the opportunities that fast-evolving markets provide. Our focus remains being selective in our approach while leveraging our deep knowledge of the European market and fundamental bottom-up research with a goal of capital preservation as well as upside potential.”
AlbaCore has demonstrated impressive growth since their founding in 2016, with a team of 62 across London, Dublin, and New York. The firm currently has approximately €8.7 billion[2] in AUM and has invested more than €20 billion[3] since inception on behalf of an investor base that includes pension funds, sovereign wealth funds, endowments, insurance companies, consultants and family offices across Europe, North America, the Middle East, and Asia.
About AlbaCore Capital Group
AlbaCore Capital Group is one of Europe’s leading specialist credit investors focusing on public and private corporate credit markets. The senior investment team have been investing with this hybrid strategy for over a decade. Founded in 2016, AlbaCore has invested over €20 billion[3] for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments. AlbaCore is focused on consistently outperforming the market in the long term while protecting investor capital. The credit selection process is based on fundamental research with a focus on capital preservation and risk-adjusted returns. Headquartered in London with offices in New York and Dublin, AlbaCore has a partnership approach with values at the center of the AlbaCore community. www.AlbaCoreCapitalGroup.com
In the United Kingdom, this communication is being made only to, or directed only at, persons who are, as applicable: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("FP Order") or Article 14 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (“CIS Order”); (ii) high net worth companies and certain other entities falling within Article 49 of the FP Order or Article 22 of the CIS Order; or (iii) any other persons to whom such communication may lawfully be made. It must not be acted, or relied, upon by any other persons.
________________________
[1] Invested capital is the sum of all 'buy' trades since inception to 30 September 2022, and includes recycled capital.
[2] AUM is estimated as of 31 October 2022 and is the sum of the Net Asset Value, undrawn capital commitments and available debt finance across all vehicles managed by AlbaCore.
[3] Invested capital is the sum of all 'buy' trades for all AlbaCore mandates since inception to 30 September 2022, and includes recycled capital and co-investment.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221202005427/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Pioneering Impact Strategy, Record EM Sustainable Finance (EMSF), Celebrates Its Fourth Anniversary With Strong Outperformance Since Inception1.7.2025 08:00:00 CEST | Press release
Record Currency Management, in partnership with UBS Wealth Management, is proud to celebrate the fourth anniversary of its pioneering Emerging Market Sustainable Finance (EMSF) Strategy. Operating at the intersection of impact investing, Emerging and Frontier Market currencies and private placements, the strategy offers investors an opportunity to achieve financial returns, alongside measurable impact. Since inception, EMSF has grown to over U$1 billion in AUM and delivered positive returns of +18.7% since inception. The strategy has significantly outperformed both USD and local currency EM Debt benchmarks with around 30% lower volatility - reaffirming that investors need not compromise between financial returns and measurable impact. By taking currency risk across a wide universe of emerging and frontier currencies, EMSF helps MDBs and DFIs raise local currency funding. This allows borrowers in Emerging Markets to receive funding in local currency, eliminating FX risk. Simultaneously,
Lazard Welcomes Klaus H. Hessberger as Managing Director and Global Co-Head of Financial Sponsors Group1.7.2025 07:50:00 CEST | Press release
Lazard, Inc. (NYSE: LAZ) today announced that Klaus H. Hessberger has been appointed to the firm as Managing Director, Global Co-Head, and Head of Europe for Lazard’s Financial Sponsors Group, based in London. Adam Cady, previously Lazard’s Head of Large-Cap Financial Sponsor Coverage North America in New York, has also been named Global Co-Head of the Global Financial Sponsors Group, running the team together with Klaus. These appointments reflect Lazard’s expanding connectivity and partnership with alternative asset managers, which continues to be a principal area of focus and a major source of future growth for the firm globally. Lazard’s recruiting efforts are also a key contributor to the firm’s long-term growth goals, with ongoing success in attracting top tier talent globally. “Klaus is a recognised leader in the global financial sponsor community with an impressive track record of advising global alternative asset managers and leading teams of highly experienced industry profes
Usercentrics Report Reveals: As Concern Over Data Use Grows, Transparency Becomes the Number One Driver for Building Trust1.7.2025 07:28:00 CEST | Press release
Consumer trust is waning as AI and data concerns rise — driving a shift toward Privacy-Led Marketing strategies 59% of consumers are uncomfortable with their data being used to train AI systems, according to a new report from privacy tech leader Usercentrics. But it isn’t AI itself that worries consumers - it’s the lack of clarity around how their data is used. Rather than rejecting innovation, people are demanding greater transparency and control. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630843237/en/ How much do consumers trust companies in various industries when it comes to data collection and use? According to the State of Digital Trust 2025report, based on insights from 10,000 frequent internet users across Europe and the United States, digital privacy has become a strategic imperative. “We’re not witnessing a breakdown in trust, but a reset in expectations,” says Adelina Peltea, CMO at Usercentrics. “In the a
Galderma Announces Departure of Its Chief Financial Officer1.7.2025 07:00:00 CEST | Press release
Ad hoc announcement pursuant to Art. 53 LR Galderma Group AG (SIX:GALD), the pure-play dermatology category leader, today announced that Thomas Dittrich, Chief Financial Officer, will be leaving the company to pursue another senior executive opportunity outside the organization. “We thank Thomas for his financial leadership and many contributions during his time at Galderma. He played a key role in establishing the financial discipline, operational readiness, and strategic clarity that will continue to guide us forward. We wish him every success in his next role and remain focused on further accelerating Galderma’s strong growth – from category leadership to becoming a true powerhouse in dermatology.” FLEMMING ØRNSKOV, M.D., MPH CHIEF EXECUTIVE OFFICER GALDERMA Thomas Dittrich will remain with the company as Chief Financial Officer through Q2 2026 to ensure a seamless transition through the close of the 2025 fiscal year. A successor will be announced in due course. “I want to thank Fle
Transition Industries Signs Strategic Agreements for the Pacifico Mexinol Project, the Largest Standalone Ultra-Low Carbon Chemical Production Facility in the World30.6.2025 20:30:00 CEST | Press release
Pacifico Mexinol project, a 6,130 MT per day ultra-low carbon methanol production facility worth more than US$3.3b will be located near Topolobampo, Ahome, Sinaloa. Once operational in 2029, Pacifico Mexinol is poised to be the largest standalone ultra-low carbon chemical production facility in the world. Transition Industries LLC, a developer of world-scale, net-zero carbon emissions methanol and green hydrogen projects in North America, held a signing event for an Engineering, Procurement, and Construction (EPC) contract with the consortium of Samsung E&A Co., Ltd. (Samsung E&A), Grupo Samsung E&A Mexico, S.A. de C.V., and Techint Engineering and Construction for the Pacifico Mexinol project located in Ahome, Sinaloa, Mexico, which is contingent upon the fulfillment of customary conditions precedent and obtainment of all required approvals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630940954/en/ MAIRE group’s techn
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom