Akina holds interim closes on three Euro Choice funds

Euro Choice VI invests in buyout, growth capital and selected special situation vehicles in Europe with a focus on those targeting mid-sized companies.

The sixth generation of the firm's primary fund programme, Euro Choice VI will mainly make primary fund investments, complemented by secondary investments, in line with the previous generation.

Euro Choice VI and the related investment programmes have so far raised more than two thirds of the €300m target. An interim close had already been held on €180m in November 2015. The final close is set for 31 October 2016.

Euro Choice VI has already closed two secondary transactions in Spain and Italy as well as eight primary investments across Europe. The fund's deployment had brought the firm a 60% IRR as of 31 March 2016. 

Euro Choice Direct is the first dedicated co-investment fund advised by Akina and targets small and mid-sized companies in Europe at different development stages.

The fund has now raised close to half of its €150m target, and is expected to hold a final close in Q4 2016 or Q1 2017. A first close had been held on €50m in January 2016.

The fund recently completed its third co-investment in a provider of cloud-based property and sales channel management software for the hospitality sector. The fund's first investment was the buyout of hotel management education group Swiss Education alongside Invision in December 2015.

Euro Choice Secondary II is the successor to the first oversubscribed secondaries investment programme Euro Choice Secondary, which closed on €224m in January 2015 ahead of its €200m target.

This second generation of the fund has a target size of €225m, with €120m already raised after two months on the road. The final close for this fund is also expected by the end of the year. 

This first closing for Euro Choice Secondary II will allow the GP to materialise certain investment opportunities currently under evaluation.

People
Akina Partners – Christopher S Bödtker (managing partner); Thomas Frei, Mark Zund (senior partners); Ulrich Bolze (principal).

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