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Vision Capital closes seventh fund at EUR680m

Vision Capital has announced the final closing of Vision Capital Partners VII at EUR680m, almost double the size of its last fund which closed in 2006.

Vision Capital has announced the final closing of Vision Capital Partners VII at EUR680m, almost double the size of its last fund which closed in 2006.

The fund will support the further development of Vision Capital’s investment programme, which aims to help financial institutions, corporates and private equity firms achieve strategic changes by acquiring their non-core assets, mainly in whole portfolios.

In common with its predecessors, the fund is expandable using parallel investment vehicles to support larger transactions.

Ninety per cent of prior investors have provided commitments to the new fund, while over 40 per cent of the fund has come from new institutional and sovereign investors from the US, Europe, the Middle East and Asia.

Geographically, approximately 40 per cent of the fund has been committed by investors from Europe, 12 per cent from the Middle East and Asia, and the balance from North America.

The leading investors include Goldman Sachs Asset Management, HarbourVest, CV Starr and GIC Special Investments.

Julian Mash, chief executive of Vision Capital (pictured), says: ‘In the current climate, we are very pleased to announce a significant increase in our fund size, with 90 per cent of our existing investors continuing their support and being able to begin new partnerships with other leading investors from around the world. With so much economic and financial uncertainty, we look forward with confidence to helping vendors achieve strategic change by providing certainty, liquidity and efficient realisations of their non-core assets in a single transaction.’

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