Aksia holds first close on €65m

Aksìa Capital IV, which launched in June last year, has a target of €125m.

Elm Capital is acting as placement agent for the fund.

Aksìa closed its previous fund, Aksìa Capital III, on €147m in 2007, with European and US LPs committing between €5-40m each. The vehicle made nine investments and has exited two of those.

In December 2011, the GP sold Robuschi to NYSE-listed Gardner Denver for €152m, generating returns of 4.1x and a 35% IRR. Last year it sold containers and packing company Plastiape Group to PM & Partners for an enterprise value of €71m, generating returns of 3.1x.

Investors
Commitments to the vehicle came from a mix of Italian and international investors.

Investments
The fund targets family-owned export-oriented assets with market-leading positions in their sector. When the fund was first announced, the GP stated Aksìa Capital IV will aim to back eight to nine small- and mid-sized Italian businesses.

The firm also stated the vehicle will focus on internationalisation, innovation and strengthening management structures while undertaking organic and acquisitive growth strategies. Exits via trade sales are expected to feature prominently during the divestment period.

People
Nicola Emanuele, Marco Rayneri and Stefano Guidotti are founding partners at Aksìa.

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• Buyout
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• Aksia Group