Jet closes second fund on CZK 4bn

The fund targeted a volume of CK 3.5-5bn (€136-194m), an increase on its first fund that closed on CZK 3.3bn (€128m) in 2015.

Jet said the vehicle is the largest private equity fund in the Czech Republic that is open to investment from international LPs.

The fund has a life of 8-10 years and targets an IRR of 15%. Jet I is currently reporting an IRR of 13.5% over the last three years.

Investors
More than 160 LPs committed to the fund. Institutional investors such as banks, insurance companies and international asset managers made up 28% of the total volume. Jet made a GP commitment of 15%.

Investments
Jet plans to invest in 8-15 medium-sized industrial companies in Europe, which will be structured as four or five platforms. Within the industrial sector, the GP will target the machinery, speciality chemicals, building materials & fixtures, automotive, aerospace and railroads sub-sectors.

People
Jet Investment – Igor Fait (managing partner).

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