Ancala Partners (“Ancala”) has held the final close of Ancala Infrastructure Fund II, which is focused on investing in a portfolio of mid-sized infrastructure businesses across Europe. The fund raised EUR 795 million, which exceeds the EUR600 million target that Ancala set in mid-2018.
Ancala also expects to deploy capital through co-investment from fund LPs with a view to investing over EUR1 billion through the Fund.
The Cotton Ginsberg Capital Partners team worked alongside Real Assets Advisors and under their regulatory umbrella as sole adviser to the fund and played a key role in helping Ancala attract institutional capital from Europe and Asia.
Around 30 institutional investors from Europe, Australia, Asia and North America have invested in the Fund, which has a 12-year term and targets a net internal rate of return (IRR) of 10-13 per cent per annum, including an annual cash yield of 5-6 per cent. Ancala is comfortably exceeding such returns on its first co-mingled fund.
Tanguy Cotton, Founding Partner, Cotton Ginsberg Capital Partners, says:
We are delighted to have worked with Ancala in helping them attract high quality institutional investors into their fund and exceeding their fund raising target. The success of the fundraise is testament to the strength of the Ancala Fund offering and Ancala’s discipline in investing in mid market infrastructure as well as their differentiated asset management capabilities that add significant value to their portfolio investments.