UK’s All Seas Capital closes maiden fund at €367.3M, already invests more than $200M

London-based All Seas Capital, a private fund that offers capital solutions to leading founder and entrepreneur-owned companies, announced the close of its maiden fund, All Seas Capital I SCSp.

The company says the fund has attracted commitments totalling $400M (approximately €367.34M), including co-investments.

All Seas Capital’s investors include pension funds, sovereign wealth funds, consultants, insurance companies, and banks from the US, Europe and Asia.

Between the fund’s establishment and final closing, All Seas Capital has already invested more than $200M (approximately €183.67M) in portfolio firms Attivo Group (UK), Hakim Group (UK), SoMeD Santé (France), and Zimmer MedizinSysteme (Germany).

Providing transformative capital for real business change

All Seas Capital is a pan-European private capital fund that provides flexible long-term funding solutions to leading mid-cap companies.

“We partner with and provide transformational capital solutions and board-level expertise to Western European entrepreneurs and family-owned mid-market businesses who need strategic capital, but do not want to sell majority stakes,” says the company.

In order to position its portfolio for long-term, sustainable development, All Seas Capital’s hybrid approach, which invests a combination of debt and equity, incorporates ESG concerns throughout its investment process.

The firm’s team is led by Marc Ciancimino and Cristobal Cuart, who co-founded and led KKR’s European mezzanine and preferred equity business. Prior to establishing All Seas Capital, they had a professional track record with €3.4B invested in 45 businesses.

Cristobal Cuart says, “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.”

The firm backs successful mid-market companies in Western Europe that have EBITDA of €5-€75M. Its usual investment is between €25M to €100M.

About the founders

Marc Ciancimino spent a decade as a partner at KKR & Co. before founding All Seas Capital. During that time, he began the firm’s European private credit activity with a focus on hybrid deals. 

He was a member of the Portfolio Management Committee and the Global Private Credit Committee. Before switching to the buyside in 1999, Ciancimino began his career in 1995 at Citibank and later worked at Bankers Trust. Since the start of his career, he has invested more than $1.9B.

Cristobal Cuart, prior to joining All Seas Capital, was a Director at KKR, where he had worked closely with Marc Ciancimino to establish and expand the company’s European private credit and preferred equity activities. 

Cuart joined KKR in 2010 and served as a senior member of the European private credit and preferred equity platform. Over the course of his career, he has invested over $2.2B in privately owned companies.