Access Capital raises €350m towards €400m target

The vehicle, Access Capital Fund VI Growth Buy-out Europe (ACF VI), has already invested in nine primary buyout funds and one secondary fund. Access claims to have been able to deploy capital into oversubscribed funds.

As with its predecessors, Fund VI aims to invest up to 40% of the fund into secondary transactions, while it aims to create a portfolio of 15 primary commitments.

The fund held a first close in December 2013 on €190m. All investors at that stage were existing backers of Access funds, including corporate and public pension funds, insurance companies and large family offices.

The firm claims investors had a keen appetite for the sixth fund after Access made "meaningful" cash distributions to its investors last year from previous vehicles.

Earlier this month, Access held a €56m first close for its second debt fund, Access Capital Private Debt Fund II. The fund targets €150m and will focus on private debt and mezzanine investments in European small- and mid-cap businesses. It has currently received commitments from existing investors.

This week also saw Access promote two and hire new risk management and compliance director Wealon Bouillet from Vega Investment Managers.

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• Topics
• Fund-of-funds
• France