Three Hills Capital Partners
Three Hills Capital Partners is a London-headquartered private markets investment firm managing €3.2-3.3 billion in AUM, providing flexible downside-protected capital solutions (preferred equity, debt, and hybrid instruments) to entrepreneur-led mid-market companies across Europe and North America.
- Company typePrivate
- Founded2008
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Three Hills Capital Partners does
Three Hills Capital Partners is a London-headquartered private markets investment firm founded in 2008 that provides bespoke flexible capital solutions to mid-market companies in Europe and North America. The firm manages €3.2-3.3 billion in assets under management across three dedicated strategies: Capital Solutions (flexible preferred capital and equity instruments targeting downside-protected growth capital), Impact (Article 9 SFDR-aligned hybrid financing for mission-driven SMEs tied to UN Sustainable Development Goals), and Credit Opportunities (senior and subordinated debt for sponsor- and entrepreneur-backed businesses). The firm's core technology is its capital structuring expertise—offering a full spectrum of instruments from senior debt to preferred equity that allow entrepreneurs to retain majority control while accessing growth capital, supplemented by an in-house Value Creation team providing operational support across HR, digital, finance, and ESG functions.
Three Hills monetizes through two primary revenue streams: recurring management fees on committed and invested AUM across its fund vintages, and performance-based carried interest on realized exits. Standard investment tickets range from €10-30 million in companies with €30-200 million enterprise values. The firm's go-to-motion is direct, relationship-led deal sourcing through a proprietary network cultivated over 15+ years, targeting transformational events including growth financings, shareholder reorganizations, management buyouts, and de-listings. Portfolio companies span education (Operam), AgriFood software (Hispatec), luxury hospitality (La Bottega, Borealis), audiovisual production (TwentyFour Seven), leadership advisory (LCap), grid infrastructure (Sinewave), AAC technology (Smartbox), and industrial automation (MECH-I-TRONIC), collectively comprising €6.7 billion of combined enterprise value and 24,000+ employees across 70+ geographies. The firm's parent is Atypical Partner, with BCI having joined the shareholder structure; B Corp certification and SFDR Article 8/9 funds position Three Hills as a sustainability-aligned alternative asset manager within the European mid-market.
Three Hills Capital Partners firmographics
Firmographics- Name
- Three Hills Capital Partners
- Legal name
- THCP Advisory Limited
- Website
- https://threehills.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Three Hills Capital Partners is a London-headquartered private markets investment firm managing €3.2-3.3 billion in AUM, providing flexible downside-protected capital solutions (preferred equity, debt, and hybrid instruments) to entrepreneur-led mid-market companies across Europe and North America.
- Ownership category
- akta.pro rank
Three Hills Capital Partners industry classification
Industry- Product category
- Private Equity Asset Management
- NAICS
- Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Mezzanine / Subordinated Debt (FSANADAC)
- akta.pro secondary industry
- Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)
Keywords
Where Three Hills Capital Partners is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices6 records
Markets served
Three Hills Capital Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: Asset management fees from managing private equity funds across multiple vintages (Capital Solutions I-IV and Impact strategy)
- Carried Interest / Performance Fees: Performance-based fees tied to investment returns, aligning manager and investor interests
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Three Hills Capital Partners product offering
Product offeringCore offering
Three Hills Capital Partners is a private markets investment firm providing bespoke capital solutions to mid-market companies in Europe and North America. It offers a full spectrum of downside-protected capital solutions ranging from senior debt to preferred equity, combining flexible financing with equity participation to enable entrepreneurs to retain control while accessing growth capital. The firm manages approximately €3.2-3.3 billion in assets under management across three strategies: Capital Solutions, Impact, and Credit Opportunities.
Product overview
Three Hills Capital Partners is an established private markets investment firm providing bespoke capital solutions in Europe and North America through three dedicated investment strategies: Capital Solutions (flexible preferred capital and equity), Impact (sustainability-focused hybrid financing with UN SDG alignment), and Credit Opportunities (senior and subordinated debt). The firm manages approximately €3.2 billion in assets under management across its strategies, with the main Capital Solutions fund (THCS IV) closed at over €1 billion in 2022, and the dedicated Impact fund closed at approximately €300 million in early 2026. Three Hills serves mid-market companies with enterprise values typically between €30-200 million, offering investment tickets ranging from €10-30 million while allowing entrepreneurs to retain control. The portfolio includes companies across technology (Smartbox AAC, Hispatec AgriFood software), hospitality (La Bottega, Borealis), services (LCap Group, TwentyFour Seven), infrastructure (Sinewave), education (Operam), and industrial sectors (MECH-I-TRONIC).
Differentiator
Problem solved
Functional benefit
Products and services
- Three Hills Capital Solutions
- Three Hills Impact
- Credit Opportunities
- Three Hills Capital Solutions IV (THCS IV)
- Three Hills Impact Fund
Quantifiable outcome
- 60+ M&A acquisitions executed by portfolio companies
- +3 more outcomes
Companies that use Three Hills Capital Partners
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles3 records
Three Hills Capital Partners technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Three Hills Capital Partners partnerships and signals
Strategic signalScale indicators10 records
Recent moves6 records
Expansion highlights6 records
Three Hills Capital Partners competitors and assessment
Company assessmentDirect peers
- Intermediate Capital Group (ICG): London-listed alternative asset manager with a flagship European mid-market direct lending and private credit franchise. Highly comparable to Three Hills given overlapping strategy (preferred/flexible capital for sub-investment-grade borrowers) and shared LP universe (pension funds, insurance companies).
- Arcmont Asset Management: European direct lending manager (formerly BlueBay Private Debt) targeting senior and junior debt to sponsor- and non-sponsor-backed mid-market companies. Closest direct analogue to Three Hills' Capital Solutions and Credit Opportunities strategies, with similar ticket sizes and sector-agnostic approach.
- Vitruvian Partners: Pan-European growth buyout firm targeting entrepreneur-led technology and services businesses. Several Three Hills partners (including Arjan Blok) previously worked at Vitruvian, and the firms share a similar sweet-spot on lower mid-market entrepreneur-backed deals in Europe.
- LBO France: French mid-market private equity firm offering flexible capital solutions. Directly comparable to Three Hills for mid-market French deal flow; Three Hills investor-manager Xavier Bayrou previously worked at LBO France, evidencing the overlap.
- Bridges Fund Management: UK-based impact-focused private markets manager investing in high-growth, impact-driven SMEs across UK and Europe. Closest direct peer to Three Hills' Impact strategy—both target entrepreneur-led lower-mid-market businesses with measurable social/environmental outcomes.
- Muzinich & Co: Global private credit and emerging markets debt manager with significant European mid-market direct lending activity. Comparable institutional fundraising model and senior/subordinated debt offerings aligned with Three Hills' Credit Opportunities strategy.
- Bluegem Capital Partners: Italian/European consumer and retail-focused mid-market PE firm co-founded by Three Hills partner Marco Anatriello. Comparable Italian mid-market origin and similar ticket sizes, with overlapping target sectors and LP bases in European institutional capital.
- Golding Capital Partners: European private markets fund-of-funds and secondary manager with significant private debt franchise. Three Hills partner Abhik Das was previously MD/Head of Private Debt at Golding; comparable platform with mid-market European credit focus.
Broad incumbents
- PAI Partners: Large pan-European mid-market buyout firm with broader portfolio of controlling-stake investments. Three Hills partner Pauline Ammeux previously worked at PAI Partners; while PAI typically pursues control buyouts rather than flexible capital, they compete for similar European mid-market deal flow.
- Bpifrance: French sovereign investment fund with large-cap PE, private debt, and direct lending activities. Both a co-investor alongside Three Hills (Socomore) and a key competitor/limited partner in French mid-market private credit; recently hired Three Hills' new MD Alessandro Gonella from Bpifrance.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Three Hills Capital Partners social profiles
Digital presenceThree Hills Capital Partners compliance and trust
Trust signalCompliance4 records
Three Hills Capital Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Three Hills Capital Partners leadership team
Management profileNumber of profiles
Profiles13 records
Three Hills Capital Partners funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Three Hills Capital Partners M&A and investment
M&A and investmentM&A3 records
Investments38 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Three Hills Capital Partners
What does Three Hills Capital Partners do?
Three Hills Capital Partners is a private markets investment firm providing bespoke capital solutions to mid-market companies in Europe and North America. It offers a full spectrum of downside-protected capital solutions ranging from senior debt to preferred equity, combining flexible financing with equity participation to enable entrepreneurs to retain control while accessing growth capital. The firm manages approximately €3.2-3.3 billion in assets under management across three strategies: Capital Solutions, Impact, and Credit Opportunities.
Is Three Hills Capital Partners a public or private company?
Three Hills Capital Partners is a private company. It is classified as private equity controlled and is currently operating.
When was Three Hills Capital Partners founded?
Three Hills Capital Partners was founded in 2008. It employs 11 to 50 people.
Where is Three Hills Capital Partners based?
Three Hills Capital Partners is headquartered in London, United Kingdom, in the Europe region.
How does Three Hills Capital Partners make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest / Performance Fees.
Who are Three Hills Capital Partners's main competitors?
Direct peers on record are Intermediate Capital Group (ICG), Arcmont Asset Management, Vitruvian Partners, LBO France, Bridges Fund Management, Muzinich & Co, Bluegem Capital Partners and Golding Capital Partners. Broad incumbents are PAI Partners and Bpifrance.
Does Three Hills Capital Partners have an API?
No public API is recorded for Three Hills Capital Partners.
What industry is Three Hills Capital Partners in?
Three Hills Capital Partners's product category is Private Equity Asset Management. Its primary akta.pro industry code is FSANADAC, Mezzanine / Subordinated Debt, with a secondary code of FSANADAJ, Large-Cap / Sponsor Finance Direct Lending. Its NAICS code is 5259 and its SIC code is 6282.