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Fund of Funds

Capital Dynamics

Capital Dynamics invests in other funds rather than directly in companies, from Switzerland. It states a focus on energy & utilities.

Capital raised$2.8bnacross 42 SEC-filed vehicles
Most recent fund2025filing since 2011
HeadquartersSwitzerland
Largest single fund$564m

Stated investment criteria

What Capital Dynamics says it buys

Read from Capital Dynamics’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

People listed on its team page481

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Capital Dynamics to consider any particular business, and nothing on this page is represented as being for sale.

SEC filings

What Capital Dynamics has raised

From this firm's own Form D filings. A fund files one within fifteen days of its first sale, under penalty of perjury, which makes these the hardest numbers on the page.

Vehicles filed42
Total capital raised$2.8bn
Largest single vehicle$564m
Filing history2011 to 2025
Smallest accepted commitment$250k
Filed fromUNITED KINGDOM

Form D covers US-domiciled vehicles raised from accredited investors. It will not capture a fund raised outside the United States, separately managed accounts, or capital deployed off balance sheet, so treat these as a floor rather than a total.

Regulatory record

How Capital Dynamics is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusSEC registered
Regulatory assets under management$2.7bn
Employees30
Private funds advised27 · $2.8bn gross
SEC adviser numberCRD 130320

Valuation context

Transaction values in Energy & Utilities

What companies have actually sold for in energy & utilities, across 584 recorded transactions.

Median consideration$180m
Middle 50%$45m-$420m
Revenue multiple1.4×
EBITDA multiple7.1×

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Comparable investors

Similar mandates

Other fund of funds investors active in energy & utilities.