Bencis raises EUR 123m continuation fund for group of Fund IV assets

Bencis identified the opportunity to continue to manage, invest in, and support its portfolio companies in Bencis Buyout Fund IV, the GP said in a statement.

The Continuation Fund will provide additional capital to support four portfolio companies in their further expansion and growth initiatives: Plastic packaging group CurTec, private label confectionary manufacturer The European Candy Group, manufacturer of high-end process equipment Pressure Thermal Dynamics, and health food products Prinsen Berning.

Bencis held a final close for Fund IV on EUR 400m in 2011, with CurTec and Prinsen Berning acquired in 2016, Pressure Thermal Dynamics in 2015, and The European Candy Group in 2013. LPs in the fund include Norwegian state-backed private assets manager Argentum, according to Unquote Data.

The Continuation Fund will be managed by the same team at Bencis, who will continue to work with the management teams of each portfolio company to identify growth opportunities and provide them with the necessary capital and resources to achieve their goals, it said.

France-based Committed Advisors led the deal and structured and priced the transfer of the assets. The fund attracted support from existing investors alongside several new institutional investors, private investors, family offices, founders and managers of former portfolio companies, as well as the Bencis team, the statement said.

Committed Advisors is currently deploying equity via Committed Advisors Secondary Fund IV, which held a final close on EUR 1.6bn in 2020, against a target of EUR 1.2bn, according to Unquote Data.

Bencis is currently deploying capital from Fund VI, which raised EUR 575m in 2020 against a target of EUR 500m.

The sponsor's other recent exits include the sale of Fund IV portfolio company Vleeswaren De Keyser, a Netherlands-based meat supplier that was sold to Parcom-backed Group of Butchers in December 2022.

People
Bencis Capital Partners - Robert Falk (partner).
Committed Advisors - Alexis Ruiz (partner).

Advisors
Bencis – Rede Partners (financial advisor); Proskauer Rose (legal); Loyens & Loeff (legal).
Committed Advisors - Hogan Lovells (legal).

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