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Mid Europa trims hard cap over dealflow concerns from LPs

14 Jan 2014

Eastern Europe-focused private equity firm Mid Europa Partners is reported to be lowering the hard cap of its latest buyout fund to €850m following concerns from investors as to the potential deal flow in the region.

According to Dow Jones, the fund – which had an initial target of €1bn and hard cap of €1.25bn, made the changes following discussions with its largest LPs.

In November last year the firm was said to be nearing the halfway mark for its €1bn-targeting fourth fundraise, despite a difficult environment for the region’s buyout market. At the time, a first close was said to be imminent.

AltAssets revealed in September 2012 that the firm had hired Credit Suisse to place Fund IV, although at that stage it had not decided on a target.

At the time MEP highlighted a string of exits it planned to make to help fire up the fundraise, including Polish healthcare company Lux Med.

Last year Mid Europa made its second bolt-on deal in the Central European laboratory space in the space of a week with Diagnostyka’s acquisition of Polish pathology company Olympus Consilio. This transaction marked a further step in Mid Europa’s strategy to consolidate the market, it said.

 

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