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American Capital to raise $1bn fund

American Capital Strategies, one of the largest US mezzanine finance providers, is raising a new fund as demand grows for leveraged buyout loans.

The new $1bn (€788m) fund will be called American Capital Equity I. It will include $670m of of equity investments currently owned by American Capital in 96 portfolio companies, plus another $330m in commitments from external investors, including HarbourVest Partners and Lexington Partners.

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