Arx nears fourth fund close around €95m

Nicole Tovstiga
06 October 2017

Tweet
Facebook
LinkedIn
Google plus
Send to

Arx Equity Partners is close to holding a second and final close for its fourth buyout fund, unquote” has learned.

The fund has so far attracted €95m and is likely to hold a second and final close on this amount, managing partner Brian Wardrop told unquote".

The lower-mid-market CEE private equity firm held a first close on €54m in July 2016. Fundraising began formally in September 2015, following a geographic strategy revision by Arx, which excluded Poland as a core country.

The GP did not use a placement agent for the fundraising and Arx CEE IV features industry-standard terms and lifespan.

Arx CEE IV is a buyout vehicle focused on central and eastern Europe, though the GP expects to make the majority of its investments in the Czech Republic, where it is based.

At first close, LPs in the fund included the European Investment Fund (EIF), Czech retail bank Ceska Sporitelna, RSJ Private Equity and a number of family offices.

EIF is the largest backer of Arx CEE IV, with Czech LPs and one Slovenian investor making up most of the remaining fund investors.

The European Bank for Reconstruction and Development has invested in the firm's previous funds, but has since removed the Czech Republic from its investing remit due to the country's economic maturity and development. As a result, it is not able to back Arx CEE IV.