French mid-market private equity firm Parquest has held the final close of Parquest III with total limited partner commitments of €414m. Launched in 2022, the fund was oversubscribed and exceeded its initial target size of €400m.
Parquest III is 34% larger than its predecessor, Parquest II, which closed at €310m.
Parquest III will continue the firm’s strategy of investing in French SMEs valued between €20m and €200m, in deal sizes of up to €100m per transaction, both directly and through its investors.
The fund is already 25% deployed, with the firm having completed three investments and poised to complete a fourth.
The Fund comprises commitments from all Parquest’s existing limited partners, as well as fifteen new investors within France and internationally.
