Three Hills Capital Partners

About Three Hills Capital Partners

Three Hills, operating as Three Hills Capital Partners, is a London-headquartered alternative asset manager providing flexible capital to mid-market companies. The firm traces its structured-capital activity to 2008 and was formally established as a fund manager in 2013. It manages approximately €3.2 billion across multiple fund vehicles, including its flagship Capital Solutions series, with the fourth vintage closed at just over €1 billion at its hard cap, plus a newer Impact strategy and a Credit Opportunities strategy alongside related co-investments. The firm employs over 60 professionals across offices in London, Milan, New York and Luxembourg. The current portfolio represents a combined enterprise value of around €6.7 billion.

Investment thesis

Three Hills is a pioneer of European structured capital, providing bespoke less-dilutive financing solutions that span the capital structure from junior debt to preferred and senior equity. Its distinctive edge is sourcing sponsorless dealflow, working directly with founders and entrepreneur-led businesses that need capital for transformational events but want to avoid full control sales or heavy equity dilution. Geography covers Europe and North America, with a strong Italian and Southern European footprint. The firm targets high-quality mid-market companies and tailors instruments to each situation. The limited partner base is broad, including public pension plans, foundations, insurance companies, consultants and sovereign wealth funds across Europe, North America and Asia. Value creation is delivered through a dedicated in-house value-creation team supporting active hands-on growth, with portfolio companies having executed over 60 M&A acquisitions.

Recent activity

Recent investments include Groupack in packaging (2025), La Bottega in consumer and luxury hospitality amenities (2024), Hispatec in agri-food technology software (2024) as the inaugural Impact-strategy deal, and TwentyFour Seven in business services (2024). The platform continues to deploy structured capital across European and North American mid-market companies, with portfolio companies pursuing buy-and-build M&A and geographic expansion. Detailed buyer names and multiple data available on Pro at €29/month.