Mandarin closes second fund on €200m

The €200m raised by Mandarin Capital Partners II (MCP II) falls short of the €500m target set in March 2013, according to unquote" data. The final close comes more than two years after a €110.5m first close in September 2013.

The vehicle's 2008-vintage predecessor MCP I closed on €350m and has since financed 10 investments by Mandarin. According to the GP, seven of those stakes have been divested as of January 2016, with plans for the remaining to be sold by early 2018.

Investors
At the time of MCP II's first close in 2013, Mandarin stated 12 of its existing 25 LPs had re-upped into the new fund. These included Banca Intesa Sanpaolo, banking foundations, pension funds, family offices and business angels.

Since that date, the fund has added institutional investors HarbourVest, Idinvest, LGT, Neuberger Berman, LFPE, HQ-Auda, Roland Berger's family office and corporate Guosen Securities.

Investments
MCP II follows its predecessor's strategy to facilitate the expansion of Italian businesses into China and vice versa. However, Germany has been incorporated as a target market for the vehicle following the opening of a Frankfurt office in September 2013.

The fund, targeting high-tech assets in the mid-cap space, has reportedly invested €40m of its capital via two deals. According to Mandarin, there are plans to add three more investments in the coming weeks.

People
Mandarin – Markus Solibieda (head of German office)

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