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Mid Europa announces final close of the largest central European buy-out fund

Mid Europa Partners, which claims to be the largest private equity firm focused on buyouts in central Europe, has announced the successful closing of its third fund, Mid Europa Fund III la

Mid Europa Partners, which claims to be the largest private equity firm focused on buyouts in central Europe, has announced the successful closing of its third fund, Mid Europa Fund III launched in May, with capital commitments of EUR1.5bn. MVision Private Equity Advisers acted as global placement agent, while Kirkland & Ellis was legal counsel.

Mid Europa secured commitments from more than 60 investors including AGF Private Equity, Alpinvest, ATP Private Equity Partners, AP2, Auda Private Equity, Axa Private Equity, Caisse des Dépôts et Consignations, CAM Private Equity, Citigroup, European Investment Bank, Feri, Singapore’s Government Investment Corporation, Goldman Sachs Asset Management, HarbourVest, MetLife, OP Trust, Pantheon, TIAA and Unigestion.

Approximately 28 per cent of commitments have come from pension plans, 24 per cent from funds of funds, 19 per cent from banks, insurance companies and other financial institutions, 16 per cent from government-related entities and international financial institutions and 13 per cent from endowments and foundations.

European and North American investors account for 50 per cent and 36 per cent of total commitments respectively, with the balance of 14 per cent coming from the Asia-Pacific region and the Middle East.

‘We are delighted with the quality and diversity of the investors who committed to our third fund,’ says Mid Europa managing partner Thierry Baudon. ‘With our second fund already 80 per cent invested in less than 24 months, this new investment vehicle will allow us to continue to take advantage of the rapidly expanding flow of quality buyouts in central Europe. The entire Mid Europa team is geared up to deliver another round of outstanding performance in its core market.’
 
Mid Europa will continue to take control stakes in leading central European companies operating in sectors with high barriers to entry. The firm will typically invest between EUR50 and EUR200m in cash-flow generative companies with enterprise values of up to EUR1bn.

Mid Europa, which currently advises and manages funds with committed capital of about USD2.6b, has a team of 20 investment professionals that has worked together since 1999 operating from offices in London, Budapest and Warsaw.

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