Bencis raises €408m for fourth buyout fund

Oversubscribed, Bencis IV exceeded the inital €400m target. The fund was launched in April 2011 and held final close in October. Bencis Capital's previous fund (Bencis III) also closed above target on €375m in July 2007.

The fund has a 10-year lifespan with management fees, carry and hurdle set at industry standards. All non-management fees are 100% offset against the management fees.

Investors
The majority of LPs in the fund are existing Bencis investors - they altogether committed €340m to Bencis IV. The LP base comprises banks, pension funds, fund-of-funds, asset managers, insurance companies and private individuals.

Investments
In line with the three previous funds, Bencis IV will focus on mature companies based in the Benelux region and valued in the €25-250m range.

Advisers
SJ Berwin (Legal); Loyens Loeff (Tax).

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• Topics
• Buyout
• Benelux
• Belgium
• Luxembourg
• Netherlands