Private equity firm Quilvest & Partners has raised $680m across three vehicles with all smashing their targets and launched a new fund of funds.
The QS PEP 2012 and QS REP II closed on $150m and $300m respectively, which was above their initial targets.
QS PEP 2012 will invest I buyout, growth, and other private equity funds mostly in the US. All of the firm’s ten previous funds with this strategy are expected to have double-digit returns.
QS REP II will make both fund and direct investments in the real estate sector.
The third fund, QS Capital Strategies, hit its hard cap of $230m.
QS Capital Strategies’ commitments of $80m could be increased by a further $150m in debt financing from the US Small Business Administration (SBA) subject to licence approval by SBA.
The fund will invest in small to medium sized businesses in the US.
Quilvest has also launched the QS PEP Core fund of funds, which is targeting $400m. The fund is a successor to the firm’s flagship QS PEP annual programmes.
Quilvest CEO Michel Abouchalache said, “Successfully closing these three funds with $700m in commitments is a testimony to our successful track record and investment philosophy.
“These three funds reflect the diverse opportunities that Quilvest offers investors through its unique direct and fund of fund global platform focused on the small and midcap space.
“Similarly, the launch of QS PEP Core will capitalise on QS PEP 11-year experience and track record to offer investors superior risk-adjusted returns.”
Quilvest & Partners, which is part of financial group Quilvest, currently manages $4.3bn in assets.
The firm has recently been named as one of the second round bidders for UK burger chain Byron.
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