Three Hills welcomes BCI in its shareholder structure

Three Hills is pleased to announce the signing of a strategic minority investment agreement by British Columbia Investment Management Corporation (“BCI”), one of Canada’s largest institutional investors, aimed at supporting the firm’s long-term growth plans. Following this transaction, Three Hills will remain an independent firm with majority ownership from its Partners and employees, continuing to be led by Founder and CEO Mauro Moretti. BCI, which has been investing for years with Three Hills, will remain a significant and strategic limited partner in Three Hills’ fund strategies.

The partnership represents a natural evolution for Three Hills. Established in 2013, the Firm has continued to execute a disciplined growth strategy, successfully expanding its investment verticals. This includes the launch of Three Hills Impact and Three Hills Credit Opportunities, while also raising its largest-ever fund in the core Capital Solutions strategy, resulting in total assets under management (AuM) of over EUR 3 billion. From its headquarters in London, the Firm has also expanded its global presence with professionals located across Luxembourg, Milan, New York, Madrid and Paris. Upon completion, BCl’s strategic minority investment will support the Firm’s growth trajectory, with the capital primarily allocated towards strengthening balance sheet capacity and funding new strategic initiatives.

Mauro Moretti, Founder and CEO of Three Hills, said: “We are delighted to enhance our partnership with BCI, which reflects our commitment to build an even stronger and more diversified platform in the coming years. Having previously supported the Firm’s strategies, the team at BCI demonstrates a sophisticated understanding of private markets, an entrepreneurial spirit similar to ours, and a global network that aligns with Three Hills’ long-term strategic objectives. Their endorsement reinforces the trust that our Limited Partners have placed in our team and investment approach.”                

Daniel Garant, Executive Vice President & Global Head, Public Markets at BCI added: “BCI is pleased to expand our partnership with Three Hills, a top-performing asset manager in Europe with significant growth potential, through this new minority investment. We are confident that under Mauro Moretti’s leadership, the firm’s strategic ambitions will continue to deliver meaningful value creation and sustainable long-term results for its partners and LPs.”

Under the new partnership structure, Three Hills’ Partners and employees will retain majority ownership and operational independence, with no impact on the day-to-day management or investment decisions. Mauro Moretti will continue in his role as Chief Executive Officer, while Leks de Boer will remain Chief Financial Officer with overall oversight of the Firm’s Finance, Risk and Compliance functions.   

The transaction is expected to close in the second half of 2025, subject to customary closing conditions and regulatory approval.

Campbell Lutyens acted as financial advisor to Three Hills. Travers Smith LLP advised Three Hills on the legal aspects of this transaction, while BCI was advised by Latham & Watkins LLP.