Adveq closes Adveq Europe VI on €462m

The close was held on 2 December, the GP said in a statement. The sixth generation of its kind, Adveq Europe VI, will invest in private equity funds and make co-investments.

In February this year, the GP announced it had held final closes for two of its vehicles: Adveq Specialised Investments, for which it raised €323m in commitments, and Adveq Europe Co-Investments, which closed on €102m.

Investors
A number of LPs that had invested in the fund's previous generations recommitted capital in the latest vintage. The fund has a global LP base, including pension funds, insurance companies and endowments.

Investors in Adveq funds have previously included Cresta LP, Mizuho Bank and Universal Investment, according to unquote" data.

Investments
Around 50% of the fund will be dedicated to fund-of-funds transactions, and the other half to co-investments. 

Adveq Europe VI targets primary, secondary and co-investment opportunities in the European small-cap buyout segment. The fund will invests with or alongside transformational, turnaround and specialist managers. 

The vehicle will select emerging managers that are raising their first or second fund, as well as established managers, and firms raising third or later generation funds.

A "sizable" amount has already been committed to specialised European managers, the GP said in a statement. Value creation within businesses will be achieved mainly through internal revenue growth and business transformation.

People
Adveq – Tim Creed (managing director); Sven Lidén (CEO).

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