Pera targets €100m for second fund

Erdinc Ergenc (Mergermarket), Mate Taczman (Mergermarket)
30 October 2018

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Turkish lower-mid-market buyout firm Pera Capital Partners is planning to launch its second fund with a target of €100m, Unquote understands.

The investor targeted €120m for its first fund, Pera Capital Partners I, but ended up holding a final close on €54m in 2013 after a first close on €45m in June 2011. The fund is now deployed across six deals with capital reserved for add-ons.

The new fund will follow the strategy of its predecessor, investing in the Turkish lower-mid-market. Partner Gokhan Arikoc said there are around 30,000 SMEs in Turkey with 100-250 employees, and the top 1-2% of them are potential targets for the firm.

The fund will also consider investments in VC-backed companies that are cash generative and fit the investment strategy, Arikoc said.

Pera Capital Partners I was backed by the European Bank for Reconstruction and Development and the European Investment Fund, and the GP would expect these LPs to support the latest fundraise.