European P.E. Firm Readies Fund Aimed At U.S. Investors

European-based fund-of-funds firm CAM Private Equity is readying to launch an offering aimed at giving U.S. institutional investors access to the European private equity market. The new fund will invest in funds that target the European mid-market buyout space, which CAM defines as enterprises with transaction values below €500 million. The target fund size is $200 million and the minimum investment is $5 million.

Rolf Wickenkamp, founder and managing partner, expects the first close in Q1 of next year, with a final close by the end of the year. The fund will have management fees of 1% that will remain constant during the investment period, which is 12 years, and then decline. The performance fee is a 5% carried interest subject to a hurdle of 8% per year.