Turkven to raise fourth fund in H2 2018
Turkish private equity house Turkven is looking to raise its fourth buyout fund, Turkish Private Equity Fund IV, in the second half of 2018, Unquote understands.
The fundraising follows in the steps of the buyout firm's current fund, Turkish Private Equity Fund III, which held a final close in 2012 on $840m.
Turkven declined to comment.
The GP has exited three portfolio companies via IPO in the past seven months, most recently with the listing of its stake in Turkish hospital group Medical Park on the Borsa Istanbul.
It achieved returns of 9x and 8x on investment through two IPOs in June 2017, floating clothing company Mavi Jeans on the Istanbul stock exchange, a listing valued at $500m; and DP Eurasia, the Eurasian branch of Domino's Pizza, in an offering worth up to £331m on the London stock exchange.
The private equity firm completed three investments from its Turkish Private Equity Fund III in 2017, including parcel delivery company MNG Kargo, pump manufacturer and water technology company Vansan, as well as enterprise application software company Mikro Yazilim.
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