Consilium approaches €150m final close for third fund

Kenny Wastell
23 April 2015

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Italian GP Consilium is anticipating a final close in June for its third fund, near its €150m target.

The firm held a second close for the vehicle in December 2014 on €134m, having held a first close on €95m 10 months earlier – after just three months on the road.

All LPs to come in at first close were investors in Consilium's earlier funds, with the exception of Fondo Italiano di Investimento, which made a €25m capital commitment.

The GP has already made the first investment from the vehicle, acquiring leisurewear producer Manifattura Riese in a management buy-in in January 2015. Consilium is currently conducting due diligence on a potential second investment from the vehicle, unquote" understands.

In line with the GP's existing strategy, the fund targets controlling stakes in Italian firms with an enterprise value of €20-80m, and aims to make 8-10 investments in total. Sectors of particular interest include food, automotive, consumer goods and retail.

Consilium Private Equity Fund III has a hard-cap of €200m.