London’s AshGrove Capital Raises €650M for Second Lending Fund

AshGrove Capital announced the €650M ($685M) close of its oversubscribed AshGrove Specialty Lending Fund II, which exceeded its €500M fundraising target and marked a 100% increase in size over its predecessor fund.

Founded in 2019, AshGrove offers credit solutions primarily to high-growth companies in Europe in the software and services sectors, with typical investments of €5M to €40M. The firm operates a 20-person team out of London, led by co-founders Ilkka Rantanen, Jonathan Ferguson, and Phil Fretwell. 

Rantanen began his career in 2005 at UBS Investment Bank, and he was a partner at Metric Capital before co-founding AshGrove. Ferguson began his career in 2003 at Barclays and held senior positions with Ares Management and Goldman Sachs’ special situations group prior to AshGrove. Fretwell began his career in 2002 and held leadership roles at Ares Management and TPG Sixth Street Partners before co-founding AshGrove with Rantanen and Ferguson.

Source: https://www.linkedin.com/posts/alternativecreditinvestor_ashgrove-capital-raises-650m-for-second-activity-7262058699685347328-sMHO/