AnaCap, a private equity firm focused on founders and entrepreneurial management teams in the European financial ecosystem, announced the successful final close of its latest flagship fundraising vehicle, Buyout II.
Buyout II closed with more than €320 million in total commitments, including co-investment capital, representing a 35% increase compared to the firm’s previous flagship fund, Buyout I. The fundraising milestone brings the total capital raised across the AnaCap platform to approximately €1 billion since Managing Partner Nassim Cherchali led the firm’s succession from its founders in 2022.
The oversubscribed fund will continue AnaCap’s established strategy of pursuing pan-European lower mid-market buyouts across services, software, and technology businesses operating within the European financial ecosystem. The firm focuses on partnering with founders, entrepreneurs, and management teams through a specialized sector-focused investment approach.
Buyout II attracted support from a diverse mix of existing and new investors, reflecting continued confidence in AnaCap’s investment strategy, disciplined execution, and track record of generating returns. The fundraising also highlights the firm’s leadership transition under Cherchali, who joined AnaCap in 2008 and has played a key role in reshaping its investment strategy since 2016.
AnaCap’s leadership team includes long-standing partners Victoria Brown, Robert Massey, and Graeme Chaffe, along with newly promoted Partner Alberto Sainaghi.
The fund has already signed four platform investments, including DK Accountants & Adviseurs in the Netherlands, Edge Group in Italy, Ancorius (formerly FJMF) in Luxembourg, and CDR Advisory, an Italian professional services firm.
With the close of Buyout II, AnaCap plans to deploy capital across a growing pipeline of investment opportunities throughout its target European markets.
AnaCap was advised by Proskauer Rose LLP and Van Campen Liem during the fundraising process.
KEY QUOTES:
“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.”
Nassim Cherchali, Managing Partner, AnaCap
