Ukraine-based Horizon Capital, a private equity fund manager focusing on central and eastern Europe, has announced the final close for its newest fund, Emerging Europe Growth Fund II, with
Ukraine-based Horizon Capital, a private equity fund manager focusing on central and eastern Europe, has announced the final close for its newest fund, Emerging Europe Growth Fund II, with total capital commitments of USD390m.
Investors in the new fund includes institutional investors, international financial institutions, family offices, and high net worth individuals from the US and Europe. Horizon Capital initially targeted a fund size of USD300m, but the fund was oversubscribed within nine months.
Horizon Capital co-managing partner Natalie Jaresko says: ‘The interest in emerging markets shown by both North American and European investors exceeded our original expectations and we believe the final size remains well within our investment strategy. We are confident that the market will present a robust number of investment opportunities at more reasonable valuations, given the current global economic crisis.’
Horizon Capital was supported in the fundraising by UK-based Somerset Capital.
The fund will make investments of between USD15m and USD40m in expansion and buyout opportunities in companies in Ukraine, Moldova and Belarus that can become leaders in their respective market segments based on significant competitive advantages. Sectors of primary interest include fast-moving consumer goods and services, financial institutions and industrial goods.
