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Rothschild & Co closes first US PE fund on $655m

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Rothschild & Co’s investment arm has reached a $655m final close for Five Arrows Capital Partners, its first corporate private equity vehicle for the US.

The vehicle represents Rothschild Merchant Banking’s 13th fund in last 10 years, and brings the firm’s assets under management to more than $10bn.

RMB said it will tap the fund to invest between $30m to $70m in lower mid-market companies in North America valued at between $75m and $500m.

FACP will typically be used to invest in the healthcare, data & software and business services sectors, it added.

The firm has already tapped the fund to complete two investments in the healthcare and data & software sectors – the buyout of The Stepping Stones Group in 2017 and Datix this year. Following the completion of the Datix deal, the fund will be around 15 percent deployed.

Rothschild Merchant Banking head Marc-Olivier Laurent said, “I am delighted that Five Arrows Capital Partners has received such strong support from both existing investors in our various funds, as well as investors new to our platform.

“This support is yet another endorsement of the highly specific investment philosophy which we have worked hard to build over the last decade in Europe.

“I am confident that under the leadership of Ari Benacerraf and Adam Lehrhoff, the two Co-Founding Partners of the Fund, we will bring the discipline and rigour needed for Five Arrows Capital Partners to deliver the type of risk-reward proposition that our investors expect from us.”

Earlier this year the firm held the final close of a direct lending fund on €655m to back European mid-market companies.

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