Stirling Square Capital Partners (Stirling Square) has held the final close of its Fourth Fund with EUR950 million in total commitments raised.The Fund exceeded Stirling Square’s target and represents a nearly 60 per cent increase in size over the firm’s Third Fund.
The Fund received robust support from the firm’s existing investor base and attracted significant commitments from notable new global investors. At final close approximately 60 per cent of commitments were from Europe, 35 per cent from North America, and 5 per cent from the Asia Pacific region.
The Fund will continue to execute the strategy developed by Stirling Square’s earlier funds for the European middle market, and pursue value-oriented transactions with a clear focus on business transformation. It has already made two acquisitions to date: in February 2019 the Fund acquired Verescence, a France-headquartered global leader in glass packaging for the perfumery and cosmetics industries; in June 2019 it acquired Logent, a provider of customised logistics solutions in the Nordics.
The final close of the Fund follows an active period of realisations for Stirling Square; the firm exited two investments in the fourth quarter of 2019, including Cartonplast from its Second Fund and Siblu Villages from its Third Fund.
Stefano Bonfiglio, co-founder and Managing Partner of Stirling Square, says: “Our track record and expertise have developed over 25 platform investments and 22 transformational add-on acquisitions completed across 13 countries since 2002. Today Stirling Square is the leading private equity firm offering truly pan-European access to the lower end of the middle market. The Fund’s increased size will allow us to more effectively target the vast opportunity set that exists in our space. With an investment team of 20 investment professionals representing 11 European nationalities and commanding 12 European languages, we are uniquely positioned to enable our business partners to achieve their true potential across borders.”
Gregorio Napoleone, co-founder of Stirling Square and Management Committee member, adds: “The successful raise of the Fund stems from our continued investment in the firm’s talent, strategic architecture and market relationships. We are proud to represent such a valuable group of stakeholders. Our significant team commitment to the Fund is evidence of our dedication to the strategy and our belief in the significant opportunities ahead. We look forward to the continued success of our team, and to strengthening our relationships with each of our partners over the course of the Fourth Fund and beyond.”
Stirling Square was advised by placement adviser Rede Partners LLP and law firm Clifford Chance LLP.
