European private equity firm Capvis Equity Partners has beaten the target for its latest fund thanks to strong support from its existing LPs.
Capvis Equity IV has held a final close on its €720m hard cap, beating its initial target of €600m, the firm said in a statement.
More than 80 per cent of Capvis’ existing investors participated in the fundraise alongside new LPs. Capvis noted that more than a third of the capital came from local German and Swiss institutions.
Capvis partner Rolf Friedli said, “We are delighted that so many of the existing investors have demonstrated confidence in the Capvis’ strategy by committing to the Fund. Capvis’ proven ability to return capital to investors has resulted in an efficient and successful fundraise.
“We are now looking forward to capitalising on the exciting investment opportunities in German Speaking Europe.”
Since 1990 Capvis has invested more than €4bn across 44 deals and floated nine companies.
Capvis raised €600m for its third fund in 2008, well above its €500m target.
The new find will invest between €20m and €100m in Switzerland, Germany and Austria.
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