Adveq Raises €462M For Sixth European Fund

Dec 12 2016 | 11:52pm ET

Global private equity company Adveq has held a final close on its sixth European buyout fund.

The new vehicle, named Adveq Europe VI, closed in early December at €462 million, comfortably above the company’s initial target of €350 million.

The fund attracted interest and support from investors around the world, including pension funds, insurance companies and endowments, the company said in a statement. 

Adveq Europe VI targets primary, secondary and co-investment opportunities in the European small buyout segment.  The fund invests with or alongside transformational, turnaround and specialist managers, and will focus on both emerging and established managers. 

The new fund has already committed a sizable amount to specialised European managers, Adveq said, and it will target small buyout companies that have a strong and defendable market position and significant value creation potential through revenue growth and business transformation.

“The fact that this is our sixth generation fund proves that investors believe it to be the right strategy for their portfolios and our broadened client base is a testament of it,” said Tim Creed, managing director and head of Adveq’s European investment practice, in a statement. “We are…very pleased with the quality of investors who have entrusted their capital to us, helping us exceed the fundraising target for this fund.

Founded in Zürich in 1997, Adveq offers specialized investment solutions which allow clients access to primary, secondary and co-investment private equity opportunities. The firm’s client base comprises institutional investors such as pension funds, insurance companies, family offices and other financial institutions located in Europe, North America and the Asia-Pacific region. The firm managed more than $6.5 billion in capital commitments as of November 30, 2016. 

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