Borromin announces 3.1x, 37% IRR gross return on Fund III

Borromin III held a final close in March 2013 on €128m. The vehicle was fully deployed as of September 2018, according to Unquote Data, having made six platform investments.

Portfolio companies in the fund included AVS Verkehrssichering, which the GP acquired in November 2013 and sold to Triton four years later. Triton announced in December 2020 that it had merged the business with fellow Triton portfolio companies and traffic safety businesses Chevron, Fero and Ramudden, as reported.

Borromin made its final exit from Fund III in December 2020, when it sold its stake in IT infrastructure business Guntermann & Drunck in an SBO to Naxicap, generating a money multiple of 3.9x. At the time, Unquote reported that the GP had also achieved an IRR of more than 30% on the exit.

Borromin generally invests in companies with enterprise values of €25-150m, targeting businesses in the DACH and Benelux regions. The GP is currently deploying equity via Borromin Capital Fund IV, which held a final close in March 2019 on €297m, surpassing its target of €250m. The fund is now around 43% deployed, the GP said in the same statement.

The GP added that it expects to launch the fundraising process for its fifth flagship vehicle towards the end of 2021 or in early 2022.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• GPs
• Fundraising
• DACH
• Germany
• Steadfast Capital GmbH