The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

Altaroc
Altaroc, a European provider of private equity investment solutions, has made an open-ended “evergreen” private markets vehicle available in nine countries.

The offering – the Global Evergreen SCA-SICAV-RAIF – is being rolled out in Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Portugal, Spain and Switzerland. 

The vehicle is open to investors through wealth managers, private bankers, family offices and asset management companies, with a minimum subscription of €100,000 ($115,904) in Switzerland.

The fund’s strategy only holds private equity secondaries – pre-existing investments in private markets. The fund also offers monthly subscription and redemption windows, Altaroc said.

Three Hills
Three Hills, an established private markets investment firm with around €3.3 billion ($3.8 billion) in AuM, has raised around €300 million of committed capital, including co-investment and managed vehicles. The final closing took place at the end of January.

The fund, which is a lower middle market entity called Three Hills Impact, attracted backing from Italian, European and North American pension funds, insurance companies, and family offices. It invests in European businesses with a particular focus on Italy, Spain, France and the UK, with €30-€200 million in enterprise value.