AnaCap raises $818m fund to buy financial groups

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Mon Jun 1, 2009 9:11am EDT

* AnaCap raises 575 mln euros for new private equity fund

* Targets mid-size financial services companies

LONDON, June 1 (Reuters) - Private equity firm AnaCap Financial Partners has raised 575 million euros ($818 million) for its second specialist fund targeting the financial services sector, it said on Monday.

The new fund is almost twice the size of the group's first fund raised in 2006, despite an otherwise tough fundraising climate.

"With the funds now secured we are in an excellent position to capitalise on the wide range of opportunities resulting from the turbulence of the last two years," said Amber Hilkene, director at the London-based firm, in a statement.

AnaCap recently completed a deal for leisure and property lender Ruffler Bank, agreeing to inject 80 million pounds ($131.1 million) into the group to help it expand its operations.

AnaCap's new fund will continue the firm's focus on investing for a controlling stake in mid-sized financial services companies across Europe.

Investors in AnaCap's fund include Goldman Sachs (GS.N), Allianz (ALVG.DE) and Morgan Stanley Alternative Investment Partners (MS.N), with the average size of commitment 25 million euros. (Reporting by Simon Meads; Editing by Greg Mahlich)

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