AnaCap closes flagship Buyout II with over €320m in total commitments
AnaCap, a market-leading private equity firm for founders and entrepreneurial management teams, investing in lower mid-market Services, Software and Technology within the European financial ecosystem, today announces the successful final close of its latest flagship fundraising vehicle (“Buyout II”).
Buyout II was oversubscribed, with total commitments including co-investment of over €320 million,representing a 35% increase on Buyout I. The successful close brings the total capital raised across the AnaCap platform to ~€1 billion since Managing Partner Nassim Cherchali led the successful succession from AnaCap’s founders in 2022.
Buyout II continues the firm’s established strategy of pan-European lower mid-market buyouts within the European financial ecosystem. AnaCap focuses on partnering with founders, entrepreneurs and managers with a specialised sector specific approach. This strong outcome reflects continued investor confidence in AnaCap’s differentiated strategy, disciplined approach to investing and proven ability to deliver attractive returns.
The Fund was backed by a diverse group of existing and new investors, underscoring the strength of AnaCap’s long-standing relationships and the appeal of its focused strategy within the European financial ecosystem.
This fundraising success also reflects the strength of AnaCap’s leadership succession. Led by Managing Partner Nassim Cherchali, who joined in 2008 and has reshaped the firm’s investment strategy since 2016, the transition has been driven by a long-standing partnership team that has worked together for over a decade, including Victoria Brown, Robert Massey and Graeme Chaffe, alongside the recent promotion of
Alberto Sainaghi to Partner.
Buyout II has already signed four platform investments. These investments include DK Accountants & Adviseurs in the Netherlands, Edge Group in Italy, Ancorius (fka FJMF) in Luxembourg, and most recently, CDR Advisory, an Italian professional services business.
The latest flagship fund provides AnaCap with significant capital to execute on a strong and growing pipeline of opportunities across its target markets.
AnaCap were advised by Proskauer Rose LLP and Van Campen Liem for this latest fundraising programme.
Nassim Cherchali, AnaCap’s Managing Partner, commented:
“We are delighted to announce the successful close of our latest flagship fund, which was oversubscribed and takes total capital raised by our team to c. €1 billion. This marks an important milestone for AnaCap and reflects the strength of our strategy in the lower mid-market. We are entering an exciting phase, with strong momentum across the portfolio, recent investments completed, and a compelling pipeline as we look ahead to the second half of 2026 and beyond.”
“I would like to thank our investors for their continued trust and support. We believe our strategy positions us well and we look forward to deploying this capital to further strengthen our portfolio and build high quality businesses across Europe.”