In brief: Arcano closes impact fund of funds on €280m

Arcano has raised one of the larger vehicles in the budding field of private equity impact funds of funds.

Arcano Asset Management, one of Spain’s most prominent private capital managers, has held a final close on its debut private equity impact fund after more than two years of marketing. The fund has made “more than 20 investments in funds through the primary market, direct secondary markets, as well as direct co-investments in social and environmental impact companies”, the firm said in December.

The fund launched in September 2020, according to New Private Markets’ earlier reporting, and by the following June had gathered €200 million from Spanish investors towards a €300 million target. The fund has closed on €280 million with commitments from “Spanish, Italian, Northern European and Latin American institutional investors, as well as private banking clients”, the firm said.

The fund invests along four sector lines: healthcare/biotech, education, the environment and sustainable agriculture. It backs predominantly growth and buyout funds in development markets.

The context: in the budding field of private equity impact funds of funds, Arcano’s is among the larger vehicles. Others entering this space include Golding Capital Partners and Alpha Associates.