Steadfast Capital has achieved a first close of its third fund at EUR104 million in just four months.
Support from existing investors Electra, Axa and F&C combined with the addition of some well regarded new institutions including EIF, Goldman Sachs, IdInvest, Graphite and Swiss Re enabled the fund, which launched early this year with a final target of EUR250 million, to reach this important milestone.
Steadfast Capital’s ongoing commitment to its proven investment strategy, which has been undertaken successfully for preceding funds, played a key role in securing investor support. The firm, which specialises in the German mid-market, targets majority stakes in successful and profitable businesses valued between EUR25-150 million.
Nick Money-Kyrle founding partner for Steadfast Capital GmbH and Fynamore Advisers LLP, says “We are particularly pleased with the continued support from our existing investors, and securing their involvement with our third fund was a key part of our strategy”.
