Capvis to close fifth fund on hard-cap

Oscar Geen
22 February 2018

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Capvis Equity Partners is expected to surpass its €1bn target and close on its hard-cap before the end of Q1, Unquote understands.

Capvis Equity Partners V attracted a €75m commitment from New York State Teachers Retirement System, according to a filing.

MVision Private Equity Advisers is acting as placement agent for the raise, after helping the firm hit its €720m hard-cap for Fund IV. More than 80% of LPs reupped into the fourth fund and Capvis reported particularly strong interest from North America when it closed in January 2014.

The new fund will target control positions in companies with headquarters in the DACH and Benelux regions, as well as Italy and Liechtenstein. The previous fund has realised two of its nine investments, of which six were German, two Italian and one Swiss.

Capvis is headquartered in Switzerland and targets companies with enterprise values between €100-500m in the industrials, technology and business services sectors.

Other DACH-based funds expected to come back to the market in 2018 include Triton Partners, which held a final close for its fourth fund on €3.3bn in May 2013, and, at the lower end of the market, fellow Swiss firms CGS Management and Invision Private Equity.