All Seas Capital Closes Maiden Fund
All Seas Capital closes maiden fund and launches platform with US$400M AUM
1 February 2023: All Seas Capital, a pan-European private capital fund that provides transformational capital solutions to leading founder- and entrepreneur-owned companies, is pleased to announce the final close of its maiden fund, All Seas Capital I SCSp (the “Fund”), with total commitments of US$400m including coinvestments.
All Seas Capital’s global investor base, consisting of pension funds, sovereign wealth funds, consultants, insurance companies and banks from the US, Europe and Asia, provide a well-diversified mix of investors. Since inception to the Fund’s final close, All Seas Capital invested over US$200 million in portfolio companies, including Attivo Group (UK), Hakim Group (UK), SoMeD Santé (France) and Zimmer MedizinSysteme (Germany).
All Seas Capital provides flexible long-term financing solutions to leading Western European mid-market businesses. Alongside transformational capital solutions, the All Seas team provides board level expertise to entrepreneurs and management teams who do not want to sell majority stakes.
ESG considerations are integrated throughout the investment process to help position All Seas Capital’s portfolio for long term, sustained growth and its hybrid strategy, investing a combination of debt and equity, gives investors access to equity-like returns with debt-like structural protections.
All Seas Capital is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR’s European mezzanine and preferred equity business and have an extensive career track record, with €3.4bn invested across 45 businesses prior to founding All Seas Capital.
Marc Ciancimino, Co-Founder of All Seas Capital, said:
“We would like to take this opportunity to thank our group of investors in All Seas Capital I. The quality and international diversity of our LPs is a great testimony to the investment mandate we are pursuing and we look forward to partnering with them for many years. At All Seas, we identify successful businesses that have already proven their business model but are in need of support and capital as the catalyst for real business growth. Our bespoke form of capital is attractive to management teams, and we are finding no let-up in demand having already backed five fantastic businesses.”
Cristobal Cuart, Co-Founder of All Seas Capital, commented:
“As entrepreneurs ourselves, we launched All Seas Capital to take advantage of the deep pool of opportunities across the European mid-market, accessible through our established sourcing network across our target markets of Western and Northern Europe. We have built a strong and ambitious investment and operational team, with an entrepreneurial culture at its core.”
Gemma Braithwaite, Investor Relations Managing Director of All Seas Capital, commented:
“It’s been an interesting time to be a first time fund, and I am thrilled with the outcome. The whole team has worked hard on the fundraise and that’s reflected in the results. I am especially pleased with the quality of investors we now have alongside us as we grow – a great testament to the differentiated strategy, quality of the team and the growing portfolio.”
All Seas Capital was advised by Debevoise & Plimpton LLP in London. The Luxembourg team consists of Loyens & Loeff, One Fund Management S.A. and Alter Domus.
For further information, please contact:
All Seas Capital
+44 7989 528421
About All Seas Capital
All Seas Capital is a pan-European private capital fund that provides flexible long-term financing solutions to leading mid cap companies. The team is led by Marc Ciancimino and Cristobal Cuart who co-founded and led KKR’s European mezzanine and preferred equity business, and have an extensive career track record with €3.4bn invested across 45 businesses prior to founding All Seas Capital.
We partner with and provide transformational capital solutions and board level expertise to Western European entrepreneur- and family-owned mid-market businesses who need strategic capital, but do not want to sell majority stakes. We identify businesses that already have a certain amount of scale but are in need of support and capital as the catalyst for real business growth.
All Seas Capital’s hybrid strategy, investing a combination of debt and equity, integrates ESG considerations throughout its investment process to help position its portfolio for long term, sustained growth.
Marc Ciancimino, Co-Founder
Prior to starting All Seas, Marc was a partner (“Member”) of KKR & Co where he spent a decade and started the European dimension of the firm’s private credit activities with a special emphasis on hybrid transactions. He sat on the Global Private Credit Committee and was a Portfolio Management Committee member. He started his career in 1995 at Citibank and also worked at Bankers Trust before moving to the buyside in 1999. He has invested over $1.9bn since he started his career.
Cristobal Cuart, Co-Founder
Prior to All Seas, Cristobal was a Director at KKR which he joined in 2010 where he was a senior member of the European private credit and preferred equity platform, working closely with Marc Ciancimino to launch and grow the firm’s European private credit and preferred equity activities. He has invested over $2.2bn into privately held businesses throughout his career.