Spanish private equity firm Corpfin Capital has reportedly held a first close.
Corpfin Capital IV, which is targeting €200m with a €250m hard cap, has held an initial close of €145m, said Dow Jones, citing a person familiar with the matter.
The firm will make the first draw down later this month to fund the €32m buyout of FCC Logística, which was announced in February, said the source.
Acanthus Advisers is acting as a placement agent for the vehicle.
CC IV follows Corpfin’s third fund, which held a final close on €223m in June 2006.
According to earlier reports, Corpfin is aiming to hit the €200m target before the end of the year.
Corpfin has been working with private equity investments since 1990, targeting Spanish companies with growth potential and a solid business base.
The firm says it invests up to €33m per deal, which can rise to more than €50m through potential co-investments with LPs.
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