Aztec Group has supported London-based private equity firm Preservation Capital Partners on the successful final close of PCP Fund III.
The Fund closed oversubscribed at its hard cap of €879 million (c.US$1 billion), approximately double the size of its predecessor fund.
Fund III secured commitments from a diverse global investor base, including pension funds, insurance companies, asset managers, endowments, foundations and family offices. The fund received strong support from existing investors while attracting new investors from the United Kingdom, North America, Continental Europe, the Middle East and Asia.
Aztec’s Guernsey team supported PCP throughout the fundraise, working alongside Carey Olsen as Guernsey legal counsel and Kirkland & Ellis as lead onshore legal counsel.
Matt Chick (pictured), Director, Private Equity Fund Services at Aztec Group, commented: “Closing Fund III at its hard cap and nearly doubling the size of the previous fund is a tremendous achievement for Preservation Capital Partners. We were delighted to support the team on another successful fundraising milestone, which reflects both the strength of PCP’s investment proposition and Guernsey’s enduring appeal as a hub for international private equity.”
