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Parquest raises €414m for third fund

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.

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