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Mid Europa Partners ‘months from Fund IV first close’

25 Jul 2013

europe mapEastern Europe-focused private equity firm Mid Europa Partners is reportedly eyeing first close for its €1bn-targeting fourth fund within the next few months.

The vehicle has a €1.25bn hard cap according to PEI, which first reported the news.

AltAssets revealed last September 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.

The firm managed to hit a 2.5 times return from that asset by selling it to healthcare group Bupa in April, with the €400m enterprise value representing the largest private equity exit in Poland since the firm’s sale of Aster in 2010.

Mid Europa’s last fund closed in 2007 on its €1.5bn hard cap.

That fund received commitments from limited partners including Goldman Sachs, European Investment Bank, TIAA-CREF, MetLife Insurance and Government of Singapore Investment Corp.

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