THREESTONES CAPITAL MANAGEMENT S.A.

Threestones Capital is a fast growing independent investment management group headquartered in Luxembourg. The company manages private equity real estate regulated investment vehicles under the supervision of the Luxembourg financial authorities (CSSF) in compliance with European financial regulations.
Threestones Capital Management SA is an AIFM (Alternative Investment Fund Manager) in accordance with the AIFM Directive

Focus on niche asset class

In evaluating private equity investments, Threestones Capital looks for asset classes with stable and predictable cash flows,...

investment strategy
A two-fold investment strategy

In devising the investment strategy and select investment markets, the company privileges a top-down approach recognising that business...

Hands-on direct management

Threestones believes in “hands-on” direct investment management and detailed control of operations. and applies a vertically integrated...

Making Sustainability Integral

Threestones Capital makes significant progress in making ESG an integral part of the business, from both a top-down and a bottom-up perspective...

Fund Structure SIF-SICAV
Luxembourg Closed-end SIF-SICAV
Fund Manager (AIFM)
Threestones Capital Management SA
Currency
EUR
Fund Size
EUR 450 million (equity)
Leverage
Max. 50% LTV
Fund Term
8 years (+1 year extension)
Target Net IRR
10-12% (net of all costs , fees, promote, and taxes)
Target Distribution
4% p.a., paid quarterly
Minimum Subscription
Closed to subscription
Manager
TSC One SARL
Asset Class
Nursing Homes
Investment Style
Core+
Geography
Germany, Italy, Spain
Launch date
2016
Fund Structure SIF-SICAV
Luxembourg Closed-end SIF-SICAV
Fund Manager (AIFM)
Threestones Capital Management SA
Currency
EUR
Fund Size
EUR 500 million (equity)
Leverage
Max. 50% LTV
Fund Term
6 years (+1+1 year extension)
Target Net IRR
10-12% (net of all costs , fees, promote, and taxes)
Target Distribution
4% p.a., paid quarterly
Minimum Subscription
EUR 1 million
Manager
TSC One SARL
Asset Class
Nursing Homes
Investment Style
Core+
Geography
Germany, Italy, Spain
Launch date
2021
Fund StructureSIF-SICAV
Luxembourg Closed-end SIF-SICAV
Fund Manager (AIFM)
Threestones Capital Management SA
Currency
EUR
Fund Size
EUR 160 – (Target: EUR 100m - Over-subscribed)
Leverage
50% LTV
Fund Term
5 years + 2x2 year extension option
Target Net IRR
12 ‐ 15% (net of costs and fees)
Target Distribution
5% p.a.
Minimum Subscription
closed to subscription
Manager
TSC One SARL
Asset Class
Nursing Homes
Investment Style
Core+
Geography
Germany
Launch date
2014
Fund Structure SIF-SICAV
Luxembourg Open‐ended SIF-SICAV
Fund Manager (AIFM)
Threestones Capital Management SA
Currency
EUR
Fund Size
EUR 100 million
Leverage
50% LTV
Fund Term
Open-ended with 3-years lock-up period
Target Net IRR
7%-8% Net p.a.
Target Distribution
4% Net p.a. paid quarterly
Minimum Subscription
125.000 EUR
Manager
TSC One SARL
Asset Class
Residential
Investment Style
Value added
Geography
Germany
Launch date
2014
Fund StructureSIF-SICAV
Luxembourg Closed-end SIF-SICAV
Fund Manager (AIFM)
Threestones Capital Management SA
Currency
EUR
Fund Size
EUR 60 million
Leverage
55% LTV
Fund Term
Exited 2016
Target Net IRR
Approx. 13%
Target Distribution
5% p.a.
Minimum Subscription
Closed to subscription
Manager
TSC One SARL
Asset Class
Nursing Homes
Investment Style
Core+
Geography
Germany
Launch date
2010

 

LATEST NEWS

Threestones preps healthcare-focused PE launch

Luxembourg-based manager eyes Q4 final close for new buy-and-build strategy Threestones Capital is venturing into private equity with a new...
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Financing secured for 8 properties in TSC Fund – Eurocare IV

Société Générale provides €53.5m loan for nursing home portfolio Debt facility to finance six centres in Germany and two in...
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Threestones Capital acquires additional nursing home in Spain

Threestones Capital acquires an additional nursing home facility for its TSC FUND - EUROCARE IV investment vehicle. The property is...
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