Italian mid-market firm Xenon is reportedly nearing the hard cap for its latest fund.
Xenon is set to close its Private Equity VI fund on €175m, according to Private Equity International.
The new fund follows Xenon’s fifth vehicle, which was closed with commitments of €150m in October 2009.
Xenon is focused on acquiring controlling or minority interests for up to €20m in deals valued at between €15m and €60m.
The company invests in businesses that can expand via add-on acquisitions or relocation to low-cost countries, particularity in Eastern Europe.
Italian funds currently in the market include venture capital firm United Ventures’ debut vehicle, which held a second close of €50m earlier this month.
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