London-based buyout firm Mid Europa Partners has reportedly hit a first close for its latest fund.
Mid Europe told investors last week that it has secured €665m for its Fund IV, said Dow Jones, citing two people familiar with the situation.
The fund initially had a target of €1bn and hard cap of €1.25bn, but reduced the hard cap to €850m last month following discussions with its largest LPs. Investors had concerns about the potential deal flow in the region, Dow Jones reported at that time.
In November last year the fund was reported to be nearing the halfway mark. Back in 2012 AltAssets revealed that Mid Europa had hired Credit Suisse to place the fund, although at that stage it had not decided on a target.
Mid Europa has recently exited its investment in T-Mobile Czech Republic to Deutsche Telekom in a €828m deal.
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