Rothschild closes first European secondaries fund on €259m
Rothschild has held a final close for its Five Arrows Secondary Opportunities III (FASO III) fund, exceeding its initial target of €200m.
The oversubscribed fund focuses on secondaries in the European mid-market.
FASO III is Rothschild's first secondaries fund.
Investors
The fund's investor base includes institutional investors such as banks and insurance companies from across the world. No pension funds are invested in FASO III.
The Rothschild Group is also invested in the fund.
Investments
Rothschild is looking to make investments worth €20-30m on average. There is no annual or regional allocation.
FASO III has already completed its first investment, buying a portfolio of 17 European SMEs from an unnamed financial institution, a deal valued at around €50m.
People
Mireille Klitting is the general manager of FASO III. The fund runs out of Rothschild's merchant banking division, which is headed by Marc-Olivier Laurent.
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