Fitzwalter Capital closes second Fund at ~US1.4bn

FitzWalter Capital (“FitzWalter” or the “Firm”) is pleased to announce that it has reached the final close of its second fund, FitzWalter Capital Partners II (the “Fund” or “FWCP II”) at ~$1.4bn, exceeding the target of $1.25bn. Fund II is over 50% larger than its predecessor, which closed on $920m in 2021 after an eight months fundraise. FitzWalter has now raised $2.4bn of capital since inception across funds and co-investment vehicles.

FitzWalter is a global private investment firm, established in 2020 by a group of senior members of Macquarie’s Principal Finance business, It has offices in London, New York and Hamburg and its six partners bring together over 100 years of aggregate investing experience.

The Fund attracted a globally diverse group of top-tier institutional investors from all regions, across a range of institution types including pension and superannuation funds, sovereign wealth funds, endowments & foundations, asset managers, consultants, and family offices.  The group includes some of the world’s larger investment programmes.

FitzWalter provides capital and capability, supporting management teams in unlocking the full potential of a business or asset, particularly in contexts of complexity, transition and other special situations. The Firm’s investments to date have encompassed a broad range of businesses and assets, diverse as to geography, sector and transaction structure.

 Ben Brazil, co-founder of FitzWalter, said “We are grateful for the continued support of our original investors and are pleased to welcome some of the world’s most respected investment programmes into the FWC fold. The standing of our investors is amply demonstrated by the extent of their increase in commitments to FWCP II, at a time when many LPs are reducing their exposures to private investment firms. That backdrop of more constrained commitments generally from LPs means that many investment markets offer a richer opportunity set for prosecution by FitzWalter than is often the case. We look forward to continuing to justify the faith placed in us by our investor base, and are committed to meeting their high standards.”

Alexander Rayden, Senior Managing Director of Evercore Private Funds Group, commented, “Building on the strong success of the first fund, we are delighted to have advised FitzWalter again on their highly successful second fundraise. Especially given the tough fundraising conditions, the level of LP interest has been extraordinary. The fact that the fund significantly upsized, exceeding its target, speaks to the quality of the FitzWalter team and proposition.”

 

Evercore Private Funds Group acted as the exclusive global placement agent for the fundraise. Debevoise & Plimpton LLP acted as onshore legal counsel to FitzWalter and Carey Olsen as offshore legal counsel.