Altamar reaches first closes for trio of funds of funds

The Spanish private equity firm's success comes amid a difficult time for private equity fund of funds managers

Altamar Private Equity, a Spanish fund of funds firm, has reached first closings for three separate vehicles, amid a difficult period for funds of funds.

The Madrid-based firm has raised a combined total of €150 million across three separate vehicles, which are targeting commitments of €350 million in total, according to a person familiar with the situation.

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