Mid Europa Partners, the private equity firm focused on buyouts in Central and Eastern Europe, has announced the final closing of Mid Europa Fund IV at €800 million, complemented by an additional pre-allocated co-investment program of €650 million.
Fund IV represents the largest dedicated fund to Central and Eastern Europe raised in the last five years.
The fund will follow Mid Europa's long-standing investment strategy of targeting the Region's high growth sectors that benefit from consumer trends, buy and build, consolidation and regional expansion themes. Fund IV will aim to deploy individual equity investments of €75-250 million in control buyouts of companies with enterprise values of up to €500 million.
Mid Europa Managing Partner Thierry Baudon said: "We are delighted with the outcome of the fundraising for Fund IV which demonstrates continuous interest in our core region, despite several years of challenging environment in Europe. We are particularly pleased that nearly 70% of commitments came from existing investors who share our confidence in the region and trust our ability to deliver value.
"A very large proportion of our investors also expressed strong interest in co-investing alongside the fund, which led us to structure a pre-allocated co-investment program of €650 million alongside Fund IV. This structured approach, building upon our extensive co-investment history in Fund II and Fund III, will provide optimal alignment of interest and allow us to react quickly and flexibly to changes in our target deal flow throughout the investment cycle."
Ogier Legal advised Mid Europa as Guernsey legal adviser. Partner William Simpson and Managing Associate Bryon Rees led the Ogier Legal Guernsey team and worked with lead counsel Kirkland & Ellis International LLP on the transaction.
Mr Rees said: "We are delighted to advise Mid Europa on their latest fund, which we believe represents the largest dedicated fund to the region raised in the last five years. It is good to see that Guernsey continues to be the domicile of choice for such a leading investment manager."
Mid Europa is a leading buyout investor, focused on the growth markets of Central and Eastern Europe with approximately €4.2 billion of funds raised and managed since inception. Mid Europa Fund Management Limited acts as Mid Europa's Guernsey based designated manager.
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