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Akina hits $372m for European lower mid-market fund of funds

4 Apr 2014

European fund of funds Akina has closed it lower mid-market-focused Euro Choice V vehicle on $372m.

Euro Choice V focuses on the mid and lower end of the European market through both primary and secondary buyout and growth capital fund investments as well as selective special situation fund investments. The first in the programme was launched in 2000.

Christopher Bödtker, managing partner of Akina, said, “This achievement shows the recognition and trust we have received from the Euro Choice‘s existing and new investors. It underscores their strong belief that the fifth Euro Choice generation will continue its successful, award-winning strategy and deliver superior and stable investment performance.”

Thomas Frei, senior partner of Akina, added, “The heterogeneous market environment in Europe more than ever requires investors to work with specialists able to identify off-market opportunities and provide access to specialist industrial funds. Our in-depth understanding of the European market and our excellent track record convinced investors to commit to the Euro Choice V investment programme.”

Akina backed UK lower mid-market buyout house August Equity Partners to its £200m final close earlier this year.

“The current market environment is favourable for private equity as it provides for a healthy deal flow at very interesting entry levels for primary as well as secondary fund investments,” said Mark Zünd, Senior Partner of Akina. “With the Euro Choice V investment programme investors are covering the value vintages 2012-2014. We are therefore very optimistic that Euro Choice V will prove an attractive investment for its investors.”

While fundraising for the Euro Choice V investment programme, investors showed a strong appetite for adding the value European vintages they had missed in 2008 and subsequently to their portfolios, the firm said. Many had stopped investing in Europe during this period due to macro uncertainties. For this reason Akina has started fundraising for Euro Choice Secondary, a dedicated European-focused secondary fund programme.

The firm’s Euro Choice Secondary fund had its initial close in December 2013 and has already invested substantial amounts in attractively discounted fund investments. It is now targeting a follow-on closing during the second quarter of 2014, Akina said.

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