Mid Europa Partners, a private equity firm focused on buyouts in Central Europe, has closed its third fund, Mid Europa Fund III with capital commitments of €1.5 billion (US$2.1 billion).
Mid Europa’s latest offering secured the bulk of its commitments from pension plans and funds of funds, according to the firm. European and North American investors accounted for 50% and 36% of total commitments, respectively, with the balance of 14% coming from the Asia Pacific and Middle East regions.
Fund III will typically invest between €50 million to €200 million in cash-flow generative companies with enterprise values of up to €1 billion.
Thierry Baudon, Mid Europa’s managing partner, said: “With our second fund already 80% 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 buyout opportunities in Central Europe.”